Posts Tagged ‘Standard & Poor’s’

RECESSION | Standard & Poor’s Downgrades Nigeria to JUNK

S&P Global Ratings during the week further downgraded Nigeria further into junk territory just as Nigeria prepares to issue its first Eurobond since 2013. “Nigeria’s economy has weakened more than we expected owing to a marked contraction in oil production, a restrictive foreign exchange policy and delayed fiscal stimulus,” S&P said Friday in an e-mailed statement […]

MTN’s Credit Rating Drops to Negative – Standard & Poors

International rating Agency Standard & Poor’s (S&P), has downgraded MTN’s credit rating and put the mobile network on a watch negative after a $5.2bn fine in Nigeria. Standard & Poor’s said on Thursday that it’s lowering its ratings on MTN from ‘BBB’ and ‘zaAA+’ to ‘BBB-’ and ‘zaAA-’. S&P also put MTN on a CreditWatch with negative implications, […]