Fitch Rates Nigeria’s Eurobond 'B+'
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Fitch Ratings has assigned Nigeria’s $1 billion 15-year 7.875% senior unsecured notes a final rating of ‘B+’. The final rating replaces the expected rating that Fitch assigned on 6 February 2017.
Fitch Ratings has assigned Nigeria’s $1 billion 15-year 7.875% senior unsecured notes a final rating of ‘B+’. The final rating replaces the expected rating that Fitch assigned on 6 February 2017.
Nigeria has again lost its place as the top oil producer in Africa after Angola overtook it.
The Federal Government, yesterday, said that it had issued the $1 billion Eurobond with 800 per cent over-subscription, as foreign investors demanded for $7.8 billion, reflecting investors‘confidence in the nation’s economy.
Nigeria plans to auction 110 billion naira ($360 million) of local currency bonds on Feb. 15, its second debt sale this year, the Debt Management Office said on Wednesday.