S&P affirms Access Bank’s ratings
March 28, 2019
10:02 pm
Following the merger between Access Bank Plc and Diamond Bank, one of the global rating agencies, Standard and Poor’s (S&P), Thursday announced that it has discontinued its ‘CCC+/C’ long- and short-term issuer credit ratings and its ‘ngBB/ngB’ Nigeria national scale ratings on Diamond Bank.
At the same time, it affirmed the ‘B/B’ long- and short-term issuer credit ratings and ‘ngA/ngA-1’ Nigeria national scale ratings on Access Bank and assigned the bank a stable outlook.
According to S&P, the affirmation of its ‘B/B’ ratings on Access Bank was based on its view that short-term acquisition risks were likely to be offset …
