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S&P cuts Nigeria to B+ on weak oil, cites political risk

Credit agency Standard & Poor's downgraded Nigeria's rating to B+ from BB- on Friday, saying the decline in oil prices in the past seven months had significantly affected the country's finances. Setting a stable outlook on the new rating, it also said political risk was a significant factor while the country's non-oil sector would support economic growth. Nigeria holds a presidential election on ...
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Added March 21, 2015
from Yahoo Nigerian News