Fitch Affirms United Bank for Africa at 'B+'; Upgrades VR to 'b'
(The following statement was released by the rating agency)
LONDON, December 18 (Fitch) Fitch Ratings has upgraded United
Bank for Africa
Plc (UBA)'s Viability Rating (VR) to 'b' from 'b-'. Its
Long-term Issuer Default
Rating (IDR) of 'B+', Support Rating (SR) of '4' and Support
Rating Floor (SRF)
of 'B+' have been affirmed. The Outlook is Stable.
The upgrade reflects the bank's sustained reduction in leverage
in conjunction
with capital ratios being in line with peers. We expect capital
ra
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Added December 18, 2015
from Reuters Nigeria