Fitch downgrades Lagos to ‘B+’, with stable outlook

02 July 2016, Lagos — Fitch Ratings has downgraded Lagos State’s Long-term foreign currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘ with a stable outlook. The downgrade, according to the global rating agency reflected the application of Fitch’s “International Local and Regional Government’s Rating Criteria – Outside the United States.” Therefore, following the recent […] More »