November 21, 2023/Fitch Ratings
Global Financial Institution Upgrades Materially Outnumbered Downgrades in 3Q23 financial institution (FI) upgrades materially outnumbered downgrades in 3Q23, largely driven by sovereign linkages, stronger capitalisation and better profitability, Fitch Ratings says in a new report. There were 49 upgrades and 10 downgrades, with positive rating actions representing 26% of total actions and negative actions representing only 6%.
Rea$ Also: Fitch Affirms Access Bank At ‘B’; Outlook Stable
Fitch took 403 actions on FI Long-Term Issuer Default Ratings and Insurer Financial Strength ratings in 3Q23. More than two thirds resulted in no rating, Outlook, or Watch change.
