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Fitch Ratings: Default score lowered from “B” to “B-”

18/11/2022
Categories: Index/Markets

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Due to high debt service, Fitch Ratings has lowered the long-term default rating of foreign currency issuers (IDR) in Nigeria from “B” to “B-”. He confirmed that the outlook remains stable. The downgrade in Nigeria's credit rating reflects the continued deterioration of the country's public debt service and external liquidity costs despite high oil prices in 2022.

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