Moody's downgrades Dangote, Seplat

Moody's Investors Service said it downgraded the ratings of Dangote Cement plc and Seplat Energy plc to Caa1 from B3 and confirmed the ratings of IHS Holding Ltd. at B3. The agency changed the outlook for the companies to stable from under review.

“All three non-financial corporates are domiciled in or have substantial exposure to Nigeria and the rating action follows Moody's downgrade of Nigeria's long-term issuer rating to Caa1 from B3 and a change in outlook to stable from ratings under review,” the agency said in a statement. It started the review on Oct. 28.

© 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.