Mauritius-based Bank One has announced that it has received a Long-Term Issuer Default Rating (IDR) of ‘BB-‘ with a Stable Outlook from Fitch Ratings for its first rating exercise. The rating was made public by Fitch Ratings (London) on 27 June 2022 following a thorough evaluation of Bank One based on key rating drivers.
The rating provides both investors and customers with an independent and verified view of Bank One’s credit standing. It is significant to note that from a rating perspective, Bank One now ranks among the top 15 banks in sub-Saharan Africa. Commenting on the announcement, Mark Watkinson, CEO of Bank One said: “I am delighted that after working closely with Fitch Ratings over the past months, we have been awarded such a positive rating. The new rating confirms our reputation as a trusted partner for our customers and we look forward to growing our business in Mauritius and the rest of sub-Saharan Africa.”
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