Nigerian bank holds on to rating

A Nigeria-based financial services company’s national scale long-term national rating has been kept at BBB-(NG), with a stable outlook, by GCR Ratings.

WSTC Financial Services’ has been affirmed on its strong capitalisation, good risk position and adequate liquidity.

The stable outlook reflects GCR’s expectations that the successful issuance of the company’s proposed bonds would further stimulate WSTC’s liquidity profile.

Meanwhile, the rating agency has also kept WSTC’s short-term national scale rating at A3(NG).

See issuer profile here