Fitch Revises Outlook on FBNH to Positive; Affirms at 'B-'
Fitch Ratings has revised the Outlook on the Long-Term Issuer Default Ratings (IDR) of FBN Holdings Plc (FBNH) and its primary operating company, First Bank of Nigeria (FBN) to Positive from Negative and affirmed the IDRs at 'B-'. Fitch has also upgraded the National Long- and Short-Term Ratings of FBNH and FBN to 'BBB(nga)' from 'BB+(nga)' and 'F2(nga)' from 'B(nga)', respectively. A full list of rating actions is at the end of this rating action commentary.