Lagos (INVESTADVOCATE)-(This statement was made by Fitch Ratings on February 14, 2017)-Fitch Ratings has assigned Nigeria’s USD1 billion 15-year 7.875% senior unsecured notes a final rating of ‘B+’. The final rating replaces the expected rating that Fitch assigned on 6 February 2017.

KEY RATING DRIVERS
The 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 25 January 2017, Fitch affirmed Nigeria’s Long-Term Foreign-Currency IDR at ‘B+’ and revised the Outlook to Negative from Stable.