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Fitch Affirms United Bank for Africa at 'B+'; Upgrades VR to 'b'

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