Nigeria, now 2nd most corrupt country in West Africa – Transparency International
Fitch Ratings has revised Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook. The ‘B’ rating could be categorized as being in the non-investment-grade category when compared with the investment-grade category of ‘BBB’ to ‘AAA’. However, the ‘B’ may be seen to have a stable outlook as it is rated above the ‘CCC’ to ‘D’ (default). This rating was supported by the large size of the economy, low debt-GDP ratio, small sovereign FX indebtedness of the sovereign, and comparatively developed financial system with a deep domestic...
Source: nairametrics.com