In Your Interest
January 30, 2023/Cordros Report On Friday, 27 January, Moody’s Investors Service (“Moody’s”) downgraded Nigeria’s sovereign credit rating further to ‘Caa1’ from ‘B3’ and changed the outlook to ‘Stable’. We note that obligations rated ‘Caa1’ are judged to be of poor standing and are subject to very high credit risk. Accordingly, […]
January 30, 2023/FBNQuest Research The Debt Management Office’s (DMO) most recent quarterly release on public debt shows that the FGN’s total external debt obligations decreased by c.USD403m relative to the prior quarter to USD39.7bn in Q3 ’22. The reduction was due to a USD548m q/q decrease in debt obligations to […]
January 30, 2023/CSL Research Moody’s Investors Service (“Moody’s”) on 27 January 2023 downgraded the Government of Nigeria’s long-term foreign-currency and local-currency issuer ratings as well as its foreign currency senior unsecured debt rating to Caa1 from B3 and changed the outlook to stable. Moody’s also downgraded Nigeria’s foreign currency senior […]