Thursday, 09 November 2017 08:44

Response to Moody’s Sovereign Rating - FG

The attention of the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) has been drawn to today’s announcement of the decision by Moody’s to downgrade Nigeria from a B1 stable to a B2 stable rating. This is equivalent to Nigeria’s existing B/Stable Outlook rating from S&P and slightly lower than Nigeria’s B+/Negative Outlook rating from Fitch. While we respect the right of Moody’s to make this decision, we strongly disagree with the premise and must address some of the conclusions upon which the decision rests. Click here for full document.