National Microfinance Bank Plc. (“NMB”) assigned a first-time credit rating by Moody’s Investors Services on 20 January 2017.
NMB is pleased to announce that it has been assigned a first-time credit rating by Moody’s Investors Services of B1 Stable, b1. This places NMB the highest among its peers in the region as well as a number of other African banks (excluding South Africa).
The credit rating process took into account the bank’s operating environment i.e. the macro environment as well the bank’s business operations.
Attaining the rating is in line with the bank’s goal to position itself as a leading financial institution in the country.The ratings further confirm NMB’s solid capitalization and good governance.The bank’s Board of Directors and Management Team are pleased with the rating and believe that the rating will enable the bank to negotiate more favourable terms with credit providers and instil further confidence with the bank’s counter parties.
Credit ratings provide individual and institutional investors with information that assists them in determining the creditworthiness of issuers of debt obligations and fixed-income securities. Credit rating agencies provide investors with objective analyses and independent assessments of companies and countries that issue such securities. NMB becomes the second local bank to obtain a credit rating from an international rating agency.
Please visit www.moodys.com for more details on the assigned ratings.