June 24, 2016/Punch By ’Femi Asu The capital adequacy ratios of a number of Nigerian banks will come under increasing pressure should the weakness in the naira and crisis in the nation’s oil sector persist, Fitch Ratings has said. CAR, which is a measure of a bank’s capital, is used […]
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Britain votes to leave EU, unleashing global turmoil
Fri Jun 24, 2016/Reuters By Guy Faulconbridge and Kate Holton Britain has voted to leave the European Union, results from Thursday’s referendum showed, a stunning repudiation of the nation’s elites that deals the biggest blow to the European project of greater unity since World War Two. World financial markets plunged […]
Fitch Downgrades Nigeria to ‘B+’; Outlook Stable
June 23, 2016/Fitch Ratings Fitch Ratings has downgraded Nigeria’s Long-term foreign currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘ and Long-term local currency IDR to ‘BB-‘ from ‘BB’. The Outlooks are Stable. The issue ratings on Nigeria’s senior unsecured foreign-currency bonds have also been downgraded to ‘B+’ from ‘BB-‘. […]
