Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

S&P Blames “PDP Infighting” For Nigeria’s Downgrade To Negative Soverign Credit Rating

Nairametrics by Nairametrics
March 31, 2014
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

Last week Reuters reported that the S&P downgraded Nigeria’s rating outlook to negative from “credit watch negative” it hitherto was. Whilst we still remained at  ‘BB-’ long-term sovereign credit rating the switch to negative will most likely affect the foreign direct investment into the country. So what is to blame for this?

The rating agency blamed the infighting in the ruling PDP as the cause for the negative outlook. According to Reuters they cited the continued in fighting within the PDP “which as heightened political and institutional risk” in Nigeria. Off course the Government reacted negatively to this with newspaper reports quoting the Minister of Finance as saying

the move by the agency was unacceptable, especially on the issue of lack of information. She reportedly said the agency should have upgraded their information on the country by reaching out to the relevant contacts and agencies it deals with during the rating exercise.

She explained that S&P was under pressure last week to file its ratings on sovereign countries and other obligors owing to the change of regime imposed on rating agencies by the US government, which requires them to submit reports twice a year.

 

RelatedPosts

Latest US Interest Rate hike ‘will lead to Naira devaluation’ – Experts

Nigeria, Morocco to build world’s longest offshore pipeline

Related

Tags: News ReviewNigeriaRating Agencies

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • NCDMB, NAICOM move to ensure patronage of local insurance firms by oil and gas companies
    • Top 5 most creatively-themed restaurants in Nigeria
    • Microsoft raises alarm over new Android malware, ‘toll fraud’

    Follow us on social media:

    Recent News

    NCDMB says 53 companies have accessed its $300 million content intervention fund

    NCDMB, NAICOM move to ensure patronage of local insurance firms by oil and gas companies

    July 4, 2022
    Top 5 most creatively-themed restaurants in Nigeria

    Top 5 most creatively-themed restaurants in Nigeria

    July 4, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com