Fitch Ratings has assigned Nigeria’s upcoming USD denominated senior unsecured notes an expected rating of ‘B+(EXP)’.
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KEY RATING DRIVERS
The expected rating is in line with Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’, which has a Negative Outlook.
RATING SENSITIVITIES
The rating is sensitive to changes in Nigeria’s Long-Term Foreign-Currency IDR.
On 24 January 2017, Fitch affirmed Nigeria’s Long-Term Foreign-Currency IDR at ‘B+’ and revised the Outlook to Negative from Stable. The Long-Term Local-Currency IDR is also ‘B+’ with a Negative Outlook.