Investors have dumped Nigeria bonds at the fastest pace amid moody’s downgrade of its long-term foreign-currency and local-currency issuer ratings, Bloomberg has said.
Earlier, the Central Bank’s raised the interest rate from 16.5 to 17.5 per cent.
In its latest assessment, the global rating agency also lowered Nigeria’s foreign currency senior unsecured debt ratings to Caa1 from B3 and changed the outlook to stable.
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