Fitch Foresees Upgrade of Ecobank’s National Ratings as exchange-rate volatility recedes
Fitch Foresees Upgrade of Ecobank’s National Ratings as exchange-rate volatility recedes Fitch Ratings says it foresees an upgrade of ENG's National Ratings which would result from strengthening its creditworthiness relative to other Nigerian issuers. According to the international rating agency, it expects to resolve the Rating Watch Negative (RWN) of ENG “within the next six months when exchange-rate volatility may recede, the impact on regulatory capital ratios and common equity double leverage is clear, and the scale of the second-order economic effects of the devaluation on loan quality becomes evident”. Fitch in its recent report noted that Factors that could,…