Moody's rates Nigeria Ba3

Moody's Investors Service said it assigned local and foreign currency issuer ratings of Ba3 to the Government of Nigeria.

The outlook is stable.

Moody's said the ratings reflect: (a) Nigeria's strong economic resilience and strength, which are underpinned by its vast hydrocarbon wealth, its relatively large size and developed non-energy sector, but offset by significant infrastructure needs; (b) still evolving governance structures which form a key challenge for Nigeria's institutional strength; (c) the establishment of a sovereign wealth fund, which should support the country's financial strength; and (d) The country's moderate event risk due to the heightened security conditions in the north of the country.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.