Fitch Downgrades Nigeria to ‘B’; Outlook Negative

Fitch says CBN's loan directive Credit negative for banks

Fitch Ratings has downgraded Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B' from 'B+, citing the country’s precarious monetary and exchange rate policy setting and lack of fiscal buffers. According to Fitch, the downgrade and Negative Outlook reflect the aggravation of

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