Fitch places FBN Subordinated Notes on RWP, ratings may likely be upgraded

• by Bolade Showunmi
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Fitch Ratings has placed First Bank of Nigeria’s (FBN) subordinated notes, which are rated ‘CCC’/’RR5′, on Rating Watch Positive (RWP). Placing a debt on RWP means that rating for the instrument may likely be upgraded. The FBN notes were issued through FBN Finance Company BV, a special purpose vehicle, which was established to provide funding […]