Fitch: Guaranty Trust outlook positive

Fitch Ratings said it revised the outlook for Guaranty Trust Bank plc's long-term foreign-currency issuer default rating to positive from stable.

The agency also affirmed the D individual, support 4, and B+ long-term foreign-currency and B short-term foreign-currency issuer default ratings. The agency also affirmed the support rating floor B and national long-term and short-term ratings at AA-(AA minus)(nga) and F1+(nga), respectively.

The revised outlook reflects significantly enhanced risk and working capital base, growing franchise and enhanced earnings capacity, according to Fitch.

The ratings consider strong financial performance and improved asset quality, the agency said.

They also reflect Nigeria's difficult operating environment and the bank's concentrated loan book, Fitch said.

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