Stanbic IBTC Retains Fitch’s ‘AAA’ Rating

A recent report by globally renowned credit
rating agency, Fitch Ratings, has affirmed that Stanbic IBTC Holdings PLC, Nigeria’s
leading end-to-end financial solutions provider, and Stanbic IBTC Bank PLC, its
banking subsidiary, have retained their National Long-Term Ratings of AAA(nga).
According to the report, both organisations also maintained their National
Short-Term Ratings of F1+(nga).

The ‘AAA (nga)’ rating represents the highest
score assigned by Fitch Ratings in its National Rating Scale for Nigeria; and
it is assigned to issuers with the lowest expectation of default risk in
comparison with other issuers in Nigeria. The National Short-Term Rating of F1 on the other hand, is bestowed on issuers or
obligations that have the strongest capacity for timely payment of financial
commitments relative to other issuers in the same country. Stanbic IBTC Bank
PLC and Stanbic IBTC Holdings PLC were however rated as F1+(nga) due to their very
strong liquidity profiles.

Also read  El-Rufai Commends Olam on Agricultural Investments and Reforms

A key rating driver for both companies is
their affiliation to South Africa’s Standard Bank Group, their parent company.
The ratings are an indication of the Standard Bank Group’s capacity and
readiness to support both organisations. Another factor taken into cognisance
during the rating process were the role of both companies as Standard Bank’s
main operations in West Africa as well as the ownership size and high
operational integration. …read more


Source:: MediaCraft