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Fitch upgrades Access Bank on improved creditworthiness

Fitch Ratings on Jan. 31 upgraded Access Bank Plc's national long-term rating to A+(nga) from A(nga).

At the same time, the rating agency affirmed the Nigerian lender's B/B long- and short-term issuer default ratings, F1(nga) national short-term rating, "b" viability rating, 5 support rating and No Floor support rating floor, with a stable outlook on the long-term issuer default rating.

Fitch said the upgrade of Access Bank's national long-term rating reflects its view of an improvement in the bank's creditworthiness relative to other rated Nigerian institutions considering the continued expansion of its franchise as well as its stable asset quality.