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26 | The Lion King
Feature
Global Agencies Affirm Good
Ratings on UBA
A blast
from
the
past!
I
n Confirmation of our leadership position on
the continent and in attestation to our strong
liquidity, including clean and robust balance
sheet, UBA has been accorded impressive rat-
ings by two of the world’s leading rating agen-
cies, Global Credit Rating Co. and Fitch Ratings.
The Global Credit Rating Co(GCR), a highly
respected South African rating agency has ac-
corded UBA a long term rating of AA(NG) and a
short term rating of A1, with a stable outlook.
GCR further accorded UBA and the Series 1 and
2 of its N400 billion Medium Term Note Pro-
gramme, the investment grade rating based on
its strong fundamentals and widespread brand
acceptance. The rating agency further high-
lighted on long corporate history and presence
in 18 other African Countries amongst other
positive factors for the impressive rating.
In the same vein, Fitch Ratings has also affirmed
UBA a long term national rating of A+, Short
term national rating of F1 and a Stable Outlook.
Fitch Ratings attributed its rating on the strong
recovery in pre-impairment earnings and strong
liquidity of the bank.
GMD/CEO, Phillips Oduoza while reacting to the
ratings, said the positive ratings, coming on the
backdrop of recent awards by The Bankers Mag-
azine, a publication of the Financial Times as the
Bank of the Year Africa, is an attestation to the
Bank’s efforts in ensuring clean and robust bal-
ance sheet, amidst prevailing economic chal-
lenges. “This is a strong indication of the positive
impact of our collective drive and steadfastness
in reclaiming our leadership position” he said.
A UBA management
meeting in the early
seventies