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Maroc Maroc - MYJOYONLINE.COM - A la Une - 28/Aug 10:13

Fitch affirms Guaranty Trust Bank Ghana at ‘B-‘; Outlook Stable

“GTB Ghana's VR of 'ccc' reflects our view that failure remains a real possibility due to high exposure to the Ghanaian sovereign (Restricted Default; RD) through securities. This bank incurred losses in the sovereign domestic debt exchange programme (DDEP) and some risks remain from the ongoing external debt restructuring and impending loan-quality issues. Nevertheless, the losses are tolerable due to adequate capital buffers. The VR is one notch below the implied VR of 'ccc+' due to the following constraint: operating environment/sovereign rating”.

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