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Fitch Ratings has moved nine Nigerian banks and two bank holding companies to Positive outlook from Stable while affirming their long-term issuer default ratings at B, following its October 9 revision of Nigeria's sovereign outlook.

Moody's has revised sub-Saharan Africa's outlook to positive as reforms, commodity prices and better financing ease debt pressures, though interest burdens remain high for several countries including Kenya and Zambia.

Fitch Ratings has revised Nigeria's credit outlook to Positive from Stable, citing sustained reforms, disinflation and improved foreign reserves of $54.9 billion.