Tag: S&P
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S&P Affirms AAA/A-1+ Ratings on AfDB, Adesina reacts
Standard & Poor’s (S&P) Global Ratings has affirmed its ‘AAA/A-1+’ long- and short-term issuer credit ratings on the African Development Bank (AfDB). The rating agency in its latest rating positively assessed the bank’s very strong financial risk profile, very strong capital adequacy, strong funding and liquidity, extraordinary shareholder support and adequacy of its governance and…
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S&P Cuts Nigeria’s 2020 GDP Growth Forecast to 1.5%
The Gross Domestic Product (GDP) growth forecast for Nigeria in 2020 has been revised downward to 1.5 percent from 2.2 percent by Standard and Poors (S&P). In a press statement issued on Thursday, the rating agency also announced lowering its long-term foreign and local currency sovereign credit ratings on Nigeria to ‘B-’ from ‘B’. In…
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S&P speaks on Nigeria’s external debt profile, rates economic outlook
Renowned global rating agency, Standard and Poors (S&P Global Ratings), has allayed fears in some quarters over the raising debt profile of the country. In a statement issued last Friday, S&P said though Nigeria’s economic performance remains weak, its external debt is moderate. However, the agency said fiscal consolidation would be key in the period…
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S&P assigns ‘B/B’ ratings, stable outlook on UBA
International Rating Agency, Standard and Poor’s (S&P) assigned its ‘B’ long term and ‘B’ short term global scale counterparty credit ratings to the United Bank for Africa Plc (UBA). These ratings on the pan African financial institution, United Bank for Africa (UBA) Plc, are at par with S&P ratings on the Nigerian Sovereign. More so,…