Nigeria’s sovereign rating

Fitch Ratings signals downgrade of Nigeria’s sovereign rating

Fitch Ratings signals downgrade of Nigeria’s sovereign rating

By Babajide Komolafe Fitch Ratings, Tuesday, said it may downgrade Nigeria’s sovereign rating to ‘Negative’ from ‘B+’ if ongoing efforts to defend the naira eats heavily into the nation’s external reserves in the face of a sustained decline in crude oil price. The nation’s external reserves fell by 19.7 percent to $36.2 billion on Monday […]