UBA Plc is rated by the leading independent rating agencies. We have favorable Credit Ratings as shown.
Credit Ratings of UBA Plc.

	Short term rating	Long term rating	Previous Ratings	Outlook
Fitch Ratings (October 2011)  [download report | 294KB]
Foreign Currency	B	B+	unchanged	negative
National	F1(nga)	A+(nga)	unchanged
Sovereign Foreign		BB-	unchanged	negative
Sovereign Local	F1	A+	unchanged	negative
Global Credit Rating Co (August 2011)   [download report | 276KB]
National	A1+	AA-	AA
International	B	B+	unchanged
Agusto & Co (August 2011)  [download report | 2MB]
National	A+		A+

Fitch Credit Ratings
Fitch's credit Credit Ratings provide an opinion on the relative ability of an entity to meet financial commitments, such as interest, preferred dividends, repayment of principal, insurance claims or counterparty obligations. Credit Credit Ratings are used by investors as indications of the likelihood of receiving their money back in accordance with the terms on which they invested. Fitch's credit Credit Ratings cover the global spectrum of corporate, sovereign (including supranational and sub-national), financial, bank, insurance, municipal and other public finance entities and the securities or other obligations they issue, as well as structured finance securities backed by receivables or other financial assets.
The use of credit Credit Ratings defines their function: "investment grade" Credit Ratings (International Long-term,  'AAA' to 'BBB-'; Short-term, 'F1' to 'F3' ) indicate relatively low to moderate credit risk, while those in the "speculative" or "non investment grade" categories (International Long-term, 'BB+' to 'D'; Short-term, 'B' to 'D') either signal a higher level of credit risk or that a default has already occurred. Credit Credit Ratings express risk in relative rank order, which is to say they are ordinal measures of credit risk and are not predictive of a specific frequency of default or loss.

GCR's Rating Symbols and Definitions
Short Term DebtRating
A short term debt rating rates an organisation's general unsecured creditworthiness over the short term (i.e. over a 12 month period). Such a rating provides an indication of the probability of default on any unsecured short term debt obligations, including commercial paper, bank borrowings, BA's and NCD's.

A1+	Highest certainty of timely payment. Short-term liquidity, including internal operating factors and/or access to alternative sources of funds is outstanding, and safety is just below that of risk-free treasury bills.

Long Term Debt Rating
A long term debt rating rates the probability of default on specific long term debt instruments over the life of the issue. It is possible that different issues by a single issuer could be accorded different Credit Ratings, depending on the underlying characteristics of each issue (e.g. is it a senior or a subordinated debt instrument, is it secured or unsecured and, if secured, what is the nature of the security).

AA+	Very high credit quality. Protection factors are very strong. Adverse changes in business, economic or financial conditions would increase investment risk although not significantly.

Agusto & Co

Aa

A financial institution of very good financial condition and strong capacity to meet its obligations as and when they fall due. Adverse changes in the environment (macro-economic, political and regulatory) will result in a slight increase in the risk attributable to an exposure to this financial institution. However, financial condition and ability to meet obligations as and when they fall due should remain strong. Although regulatory support is not assured, shareholder support will be obtained, if required.

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