ECOWAS Bank keeps rating

The ECOWAS Bank for Investment and Development’s (EBID) long-term issuer default rating (IDR) has been kept at B, by Fitch Ratings.

The Togo-based financial services company has been affirmed on its strong capitalisation, stable equity-to-assets ratio and improved liquidity profile, which reflects more diversified sources of funding.

Meanwhile, the rating agency has kept EBID’s outlook at negative to reflect the high risk business environment in which the company operates.

This comes after Fitch downgraded EBID’s outlook from stable to negative, on downward pressure on the company’s liquidity, in 2019.

See issuer profile here