Fitch affirms Guaranty Trust Bank at ‘B’; off RWN; Outlook Stable

GTBank Fitch ratings

Fitch Ratings has affirmed Guaranty Trust Bank (GTB) Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. The removal of GTB‘s Long-Term IDRs, Viability Rating (VR) and National Ratings from RWN reflects Fitch’s view of receding near-term risks to the bank’s credit fundamentals from the economic fallout arising from the oil price crash and coronavirus pandemic. In our opinion, the impact of the economic downturn on GTB‘s credit profile is tolerable at the current rating and it will take several quarters before the…

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