FITCH Archives - Vanguard News

Nigeria’s oil export to fall by 50% this year — Fitch Ratings

On June 16, 20207:17 amIn Businessby Nwafor

Fitch Ratings, world’s leading risk analysts, has said that Nigeria’s oil export will record a 50 percent decline by end of this year due to the impact of the Coronavirus (COVID-19) pandemic on the economy.

Cut in oil production’ll deepen economic recession in Nigeria — Fitch

On May 19, 20206:21 amIn Business, Newsby Nwafor

Fitch Ratings Agency yesterday said the country’s adherence to oil production cuts under the Organization of Petroleum Exporting Countries (OPEC+) agreement will deepen economic recession in Nigeria.

Fitch downgrades South Africa’s credit rating to ‘junk’ status

On April 4, 20204:04 pmIn Financeby Temisan Amoye

Ratings agency Fitch downgraded South Africa’s credit rating further into “junk” territory on Friday, another blow for Africa’s most industrialised economy, which is still smarting from a Moody’s downgrade last week. Fitch lowered its long-term foreign-currency issuer default rating to ‘BB’ from ‘BB+” and assigned a negative outlook. The agency cited “the lack of a
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Inadequate pricing, market disruption to push rate increases into 2020 — Fitch

On August 27, 20196:27 amIn Business, Newsby Nwafor

Reinsurance rate increases are expected to continue into the 2020 renewals due to ongoing disruption in the market and inadequate pricing levels, according to Fitch Ratings.

Fitch expresses concern over FG’s ability to support banks

On November 28, 201811:07 pmIn Business, Newsby vanguard

GLOBAL rating agency, Fitch Ratings, has expressed concern over the ability of the federal government to support the banking industry especially in terms of foreign exchange.

FITCH predictes growth for Nigeria’s economy in 2018

On January 2, 20185:59 pmIn Business, Newsby vanguard

Fitch Ratings, an international rating agency, has predicted that Nigeria’s economy will grow in 2018 by 2.6 per cent.

Weekly dollar inflow into investors’ FX window hits $1bn —Fitch

On June 8, 20177:13 amIn Business, Newsby Nwafor

Dollar inflow into the newly created Investors and Exporters, I&E, foreign exchange window has reached $1 billion per week.

Fitch affirms UBA, Stancbic IBTC ratings

On February 21, 201710:29 pmIn Businessby vanguard

FITCH Ratings, the global leader in credit ratings and research, has re-affirmed the national ratings of United Bank for Africa, UBA Subsidiaries and Stanbic IBTC Bank PLC (SIBTC) and its holding company, Stanbic IBTC Holdings Plc, in spite of the inclement operating environment, market volaatility and present recession in Nigerian economy.

Fitch revises BoI outlook to negative

On February 16, 201712:10 amIn Business, Newsby vanguard

GLOBAL rating agency, Fitch, Wednesday, revised Bank of Industry’s (BOI) Outlook to Negative from Stable, due to the health of the country’s economy. Fitch, however, reaffirmed the bank’s National long-term rating at AA+, as well as its Long-Term Issuer Default Rating (IDR) at ‘B+’

Fitch downgrades Nigeria long-term ratings

On January 25, 20177:52 pmIn Newsby vanguard

The ratings agency Fitch downgraded the outlook on Nigeria’s long-term debt on Wednesday, as the West African country experiences “the most challenging economic situation in its history,” according to its president, Muhammadu Buhari.