Monday 26, February 2018 by Matthew Amlôt

Fitch rates Nigeria's upcoming USD notes 'B+(EXP)'

Fitch Ratings has assigned Nigeria's upcoming senior unsecured USD denominated notes an expected rating of 'B+(EXP)'.

The assignment of the final rating is contingent on the receipt of final documents materially conforming to information already reviewed.

The expected rating is in line with Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B+', which has a Negative Outlook.

The rating is sensitive to any changes in Nigeria's Long-Term Foreign-Currency IDR.

On 31 August 2017, Fitch affirmed Nigeria's Long-Term Foreign-Currency IDR at 'B+' with a Negative Outlook. The Long-Term Local-Currency IDR is also 'B+' with a Negative Outlook.

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