Fitch Drops Nigerian State of Kwara's Ratings
Fitch Ratings has withdrawn the Nigerian State of Kwara's Long-Term foreign and local currency ratings of 'B+' and Long-Term National Rating of 'AA-(nga)'with Stable Outlooks. The agency has simultaneously withdrawn the Long-term ratings of 'B+' and 'AA-(nga)' on the NGN17bn bond maturing in 2014.
KEY RATING DRIVERS
The withdrawal follows the issuer's decision to stop participating in the rating process. Fitch will no longer provide ratings or analytical coverage of Kwara State.
Kwara is located in central Nigeria, between Lagos and Abuja. The state has a population of about 3 million and a per capita GDP of about NGN130,000 (EUR700; USD1,000) while the unemployment rate is roughly 10%. Commercial farming and other industrial initiatives support the state's GDP growth prospects.
Related
Fitch Ratings' Decision on Kwara Shows Dire Financial Condition - ACN
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
20 Billion Bond Abdulkareem Alabi Gabriel Fashanu Gobir Abdullahi Biffo Salihu Jibril Garbi Islamic Development Bank Gbenga Awoyale Tafida Of Kaiama Saadu Alanamu Amosa Junior Secondary School Certificate Examinations Mahmud Babatunde Baker Siraj Oyewale Kamaldeen Gambari Jelili Yusuf Adolescent Girls Initiative For Learning And Empowerment Igosun Musa Aibinu Jeunkunu-Malete-Bani Kwara State Branch Of The National Library Isiaka Alikinla Oluranti Idowu Post-utme Gobir Organization Foundation Mohammed Ghali Alaaya Oni Adebayo Harrison Osauwagboe TESCOM 2025 Garuba Alikinla Shittu Ilofa Ishaq Abdulkarim Agor Bayo Onimago Okin Biscuit Modibbo Kawu Wahab Agbaje Sardauna Umar Adelodun Sulyman Buhari General Tunde Idiagbon International Airport Atiku Sidikat Alaya Ibraheem Adeola Katibi Makama Of Ilorin Muhammed Abdullahi Sobi Hill Valsolar-Kwara Company Limited Sobi FM Moremi High School Women For Change And Development Initiative Akeem Olatunji Halimah Perogi Abubakar Kawu Baraje Yoonus Kola Olatinwo IF-K Special Agro-Industrial Hub Overland Kamoru Kadiri Adamu Ibrahim Sabi Abubakar Lah ER-KANG Mining Yusuf Lanre Badmas Mahe Abdulkadir Kwara Liberation Group International Public Sector Accounting Standards Kuliyan Geri Yusuf Amuda Gobir Babatunde Ajeigbe Chief Imam Of Ilorin Jimoh Olusola Imam Osuwa Rafiu Olasile John Obuh Alimi Abdulrazaq Kwara Poly Oyawoye