Nigeria’s oil power house, Rivers loses Fitch Rating

Fitch Ratings.

*Fitch Ratings.

11 September 2015, Houston – Fitch Ratings has withdrawn Nigeria’s Rivers State’s Long-term foreign and local currency Issuer Default Ratings (IDRs) of ‘BB-‘, with Negative and Stable Outlooks respectively, and its National Long-term rating of ‘AA-(nga)’, with Stable Outlook.

Fitch, a major global a key rating driver decided to discontinue the rating of Rivers State, due to lack of information. All ratings have subsequently been withdrawn. As a result Fitch will no longer provide ratings or analytical coverage on the issuer.

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