October 2, 2020/Cowry Asset Report

In the just concluded week, one of the leading providers of credit ratings, Fitch Ratings, revised outlook on Nigeria’s long-term foreign-currency issuer default rating (IDR) to “Stable” from “Negative” and affirmed the IDR at “B”.

According to the credit rating agency, the revision of the Outlook reflects a decrease in the level of uncertainty surrounding the impact of the global pandemic shock on the Nigerian economy.

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