Tag Archives: Fitch rating

Fitch Ratings has said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating in Nigeria and some other sub-Saharan African countries.

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A global credit rating agency, Fitch Ratings, on Thursday affirmed Nigeria’s long-term foreign-currency issuer default rating at ‘B+’ with a negative outlook. It said the ‘B+’ rating reflected Nigeria’s position as Africa’s largest economy and most populous country, its net external creditor position, and its well-developed domestic debt markets, balanced against a high level of hydrocarbon dependence, low levels of …

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Fitch Ratings on Monday rated Federal government of Nigeria’s $3 billion senior unsecured notes ‘B+’. According to Fitch, the FG’s $1.5 billion 6.500% senior unsecured notes due November 28, 2027 and $1.5 billion 7.625% senior unsecured notes due November 28, 2047 the final rating of ‘B+’. The latest report by global agency stated that the final rating replaces the expected …

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International ratings agency, Fitch ratings has said Frontier Markets most especially in Africa are at risk in the last quarter of the year on the background of dwindling commodities prices and political crisis that has disrupted economy. The agency noted that the fall in global oil prices and insecurity were the main drivers for the downward trend in frontier market …

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