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Fitch revises Stanbic Bank Kenya's rating outlook to stable

Fitch Ratings on Feb. 15 revised the outlook on the long-term issuer default rating of Stanbic Bank Kenya Ltd. to stable from negative, after a similar action on Kenya's sovereign rating.

The agency affirmed the bank's long- and short-term issuer default ratings at BB-/B, support rating at 3, viability rating at "b" and national long- and short-term ratings at AAA(ken)/F1+(ken).

The outlook reflects that on the sovereign and the agency's expectation that Kenya's country ceiling is likely to remain stable.

Stanbic Bank Kenya is a unit of South Africa-based Standard Bank Group Ltd.