Fitch revises Nigeria view to stable

Fitch Ratings said it revised the outlook on Nigeria's long-term foreign-currency issuer default rating to stable from negative and affirmed the idr at B.

“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. Oil prices have stabilized, global funding conditions have eased and domestic restrictions on movement have started to be relaxed,” Fitch said in a press release.

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