S&P Global Ratings has flagged that its “negative” outlook on Ecobank Nigeria could be upgraded to stable.
It was noted that the revision was if the bank successfully implements emergency capital measures or recovers substantial FX‑denominated loans within the next six months.
The rating agency highlighted that a prompt capital injection from Ecobank Transnational Incorporated (ETI) would help the Nigerian subsidiary meet the minimum Capital Adequacy Ratio (CAR) and mitigate the risk of Eurobond acceleration. Absent this, S&P said it sees a default within six months as “inevitable”.
