Fitch Ratings, a global credit rating agency, on Thursday downgraded Nigeria’s long-term foreign currency Issuer Default Rating to ‘B+’ from ‘BB-’ and long-term local currency IDR to ‘BB-’ from ‘BB’, describing the outlooks as stable. The IDRs opine on an entity’s relative vulnerability to default on financial obligations, the agency said on its website. It […]
Fitch lowers Nigeria’s ratings, says further contraction likely
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