Stanbic IBTC retains Fitch’s ratings
Fitch Ratings has reaffirmed that Stanbic IBTC Holdings PLC and its subsidiary, Stanbic IBTC Bank PLC, have retained their National Long-Term AAA (nga) and National Short-Term F1+(nga) ratings.
Stanbic IBTC Holdings and its subsidiary were rated high based on the potential support from their parent company, Standard Bank Group.
A statement said both organisations retained their ratings as a result of the vital role they play in Standard Bank Group’s operations in West Africa.
“The National Long-Term Ratings on Stanbic IBTC Bank’s N30 billion senior unsecured notes and the National Long- and Short-Term Ratings on the N150 billion structured note programme for senior unsecured debt are in line with the Bank’s issuer ratings,” the statement quoted Fitch.
Both Stanbic IBTC Holdings and Stanbic IBTC Bank are highly integrated with Standard Bank Group’s risk-management framework with access to Standard Bank Group’s competitive advantages relative to peers.
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