April 27, 2020 / 9:31 AM / a month ago

BRIEF-Moody's Says Changes Outlook To Negative From Stable On Three African Banking Systems

April 27 (Reuters) - MOODY’S:

* CHANGES OUTLOOK TO NEGATIVE FROM STABLE ON THREE AFRICAN BANKING SYSTEMS

* CHANGED OUTLOOK TO NEGATIVE FROM STABLE FOR BANKING SYSTEM OF SOUTH AFRICA, NIGERIA & MOROCCO DUE TO CORONAVIRUS &OIL PRICE SLUMP

* IN 3 AFRICAN COUNTRIES, OUTBREAK WILL CAUSE BANKS’ ASSET QUALITY TO DETERIORATE, PRESSURE PROFITABILITY, WHILE SLOWING ECONOMIC GROWTH

* DESPITE MEASURES AND BANKS’ SOLID RISK MANAGEMENT, EXPECT MATERIAL DETERIORATION IN THE CREDIT RISK EXPOSURE OF SOUTH AFRICAN BANKS

* NIGERIA’S LARGEST BANKS TO CONTINUE TO BENEFIT FROM HIGH GOVERNMENT SUPPORT

* ALTHOUGH MOROCCAN BANKS' CAPITALISATION IS RELATIVELY MODEST, THEY BENEFIT FROM GOOD ACCESS TO FUNDING, LIQUIDITY THAT WILL HELP BUFFER IMPACT Source text: bit.ly/2Sc7CBl

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