MOODY’S INVESTORS SERVICES ASSIGNS FIRST-TIME CREDIT RATING TO NMB

Moody's Investors Service has assigned first time ratings to National Microfinance Bank Plc (NMB): B1/NP local currency deposit ratings; B2/NP foreign currency deposit ratings; and a b1 baseline credit assessment (BCA) and adjusted BCA.
This places NMB the highest among its peers in the region as well as a number of other African banks (excluding South Africa).
The credit rating process took into account the bank’s operating environment, like the macro environment as well as the bank’s business operations.
Attaining the rating is in line with the bank’s goal to position itself as a leading financial institution in the country.  The ratings further confirm NMB’s solid capitalization and good governance.
The bank’s Board of Directors and Management Team are pleased with the rating and believe that the rating will enable the bank to negotiate more favorable terms with credit providers and instill further confidence with the bank’s counterparties.
Credit ratings provide individual and institutional investors with information that assists them in determining the creditworthiness of issuers of debt obligations and fixed-income securities.  Credit rating agencies provide investors with objective analyses and independent assessments of companies and countries that issue such securities.
NMB becomes the second local bank to obtain a credit rating from an international rating agency