Fitch slams downgrade on Nigerian lenders after Moody’s warned about banks’ asset quality

Fitch says CBN's loan directive Credit negative for banks

Fitch Ratings has downgraded the three-highest rated banks in Nigeria to Long-Term Issuer Default Rating (IDR) 'B' and Viability Rating (VR) 'b', and placed National Ratings of all 10 rated Nigerian banks (excluding Stanbic IBTC Holdings) on Rating Watch Negative (RWN), it said Friday. Ratings of

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