S&P: Federal Republic of Nigeria Rated 'ngAA+' On New Nigeria National Scale - 12 Мая 2009 - Еебизнес.ру - новости бизнеса

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Главная » 2009 » Май » 12 » S&P: Federal Republic of Nigeria Rated 'ngAA+' On New Nigeria National Scale
S&P: Federal Republic of Nigeria Rated 'ngAA+' On New Nigeria National Scale
LONDON (Standard & Poor's) Dec. 19, 2008--Standard & Poor's Ratings Services
said today it assigned its 'ngAA+' long-term and 'ngA-1' short-term Nigeria
national scale ratings to the Federal Republic of Nigeria. The national scale
rating reflects The Federal Republic of Nigeria's creditworthiness relative to
other issuers active in the Nigerian financial markets.

Standard & Poor's announced the launch of its national rating scale for
Nigeria in August (see "Standard & Poor's Launches National Credit Rating
Scale For Nigeria," published Aug. 14, 2008, on RatingsDirect). The scale is
designed to appeal to a wide range of entities--including companies, banks,
and states--seeking to raise capital in Africa's most populous country as it
enables Standard & Poor's to make finer distinctions between the credit
quality of local debt issuers than is possible on its global scale. It will
provide issuers, counterparties, intermediaries, and investors in Nigeria's
financial markets with both debt ratings, which apply to a specific
instrument, and issuer credit ratings, which apply to a specific obligor.

The 'ngAA+' rating assigned to the Federal Republic, which is one notch
lower than the highest potential rating on this scale, gives the scale
flexibility to accommodate future changes in the credit quality of the
Republic and of other Nigerian debt issuers. The highest rating on the scale,
'ngAAA', has not been assigned to any entity at present. The Federal
Republic's short-term rating of 'ngA-1' is the highest available on the scale.

On Standard & Poor's global scale, Nigeria is already rated foreign
currency 'BB-/Stable/B' and local currency 'BB/Stable/B'. These ratings are
supported primarily by external and fiscal positions that are among the
strongest of all 'BB' rated sovereigns. The ratings are primarily constrained
by long-standing political and ethnic tensions and fragile institutions that
complicate the challenge of improving weak governance and accountability. The
ratings are also held back by wide prosperity disparities, which constrain
policy flexibility.

Ratings information is available to subscribers of RatingsDirect, the
real-time Web-based source for Standard & Poor's credit ratings, research, and
risk analysis, at www.ratingsdirect.com. It can also be found on Standard &
Poor's public Web site at www.standardandpoors.com; select your preferred
country or region, then Ratings in the left navigation bar, followed by Credit
Ratings Search. Alternatively, call one of the following Standard & Poor's
numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44)
20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5914; or Moscow (7) 495-783-4017.

Источник - Финансовые новости
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