{"id":114963,"date":"2025-06-01T05:18:24","date_gmt":"2025-06-01T09:18:24","guid":{"rendered":"https:\/\/africatodaynewsnewyork.com\/?p=114963"},"modified":"2025-06-01T05:18:24","modified_gmt":"2025-06-01T09:18:24","slug":"moodys-upgrades-nigeria-to-b3-outlook-now-stable","status":"publish","type":"post","link":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/","title":{"rendered":"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable"},"content":{"rendered":"

Moody\u2019s, the international credit rating agency, has upgraded Nigeria<\/a>\u2019s sovereign rating from Caa1 to B3, while adjusting the outlook from positive to stable. This revision reflects substantial progress in strengthening the country\u2019s external balances and fiscal fundamentals.<\/strong><\/p>\n

In a statement announcing the rating upgrade, the company, said: \u201cMoody\u2019s Ratings (Moody\u2019s) has today upgraded the Government of Nigeria\u2019s long-term foreign currency and local currency issuer ratings to B3 from Caa1 and changed the outlook to stable from positive.<\/p>\n

\u201cWe have also upgraded Nigeria\u2019s foreign currency senior unsecured debt ratings to B3 and the foreign currency senior unsecured MTN program rating to (P)B3 from Caa1 and (P)Caa1 respectively.<\/p>\n

\u201cThe upgrade reflects significant improvements in Nigeria\u2019s external and fiscal positions.<\/p>\n

\u201cA more flexible exchange rate has greatly bolstered external reserves. Concurrently, the removal of oil<\/p>\n

subsidies has alleviated budgetary spending pressures. Initially, these policy shifts posed inflationary risks, with, as a result, a potential for policy reversal.<\/p>\n

\u201cThese risks have now diminished, with inflation and domestic borrowing costs showing nascent signs of easing, giving us confidence that the policy changes are becoming more entrenched. Moreover, tax reforms have started yielding results. \u201cAlthough vulnerabilities related to oil prices and the exchange rate remain, Nigeria\u2019s more robust buffers support a B3 rating.<\/p>\n

\n

Read also: Oil Prices Surge Amid Israel-Iran Strike Speculation<\/a><\/strong><\/h1>\n<\/blockquote>\n

\u2018The stable outlook means we expect Nigeria\u2019s recent progress on external and fiscal fronts to continue, though at a slower pace if oil prices fall. We assume current policies\u2014like the flexible exchange rate\u2014will stay in place, supported by a healthy balance of payments. Over the next fewyears, we expect debt to level off at 50% of GDP, with interest payments taking up about 35% of government revenue.<\/p>\n

\u201cRisks are balanced, with the Central Bank of Nigeria (CBN) potentially facing difficulties in upholding a flexible exchange rate if oil prices decline further, weakening the naira and increasing the government debt burden.<\/p>\n

It was noted that persistent high inflation could hinder the normalization of interest rates. However, a consistent track record of flexible exchange rate policies and successful revenue reforms was seen as potentially beneficial\u2014likely to improve business sentiment, reduce interest rates, and stimulate economic growth beyond baseline projections.<\/p>\n

Furthermore, Nigeria\u2019s local currency (LC) and foreign currency (FC) country ceilings were said to have been raised to Ba3 and B2, respectively, up from B2 and Caa1. The LC ceiling at Ba3 was reported to be three notches above the sovereign issuer rating, reflecting a degree\u2014though reduced\u2014of unpredictability in government actions and associated political risks. The FC ceiling at B2 was maintained two notches below the LC ceiling, due to ongoing transfer and convertibility risks.<\/p>\n

\n
\n
\n

Africa Today News, New York<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outlook from positive to stable. This revision reflects substantial progress in strengthening the country\u2019s external balances and fiscal fundamentals. In a statement announcing the rating upgrade, the company, said: \u201cMoody\u2019s Ratings (Moody\u2019s) has today upgraded the Government […]<\/p>\n","protected":false},"author":9,"featured_media":114964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[4],"tags":[25624,6943],"class_list":["post-114963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-moodys","tag-nigeria","pmpro-has-access"],"yoast_head":"\nMoody\u2019s Upgrades Nigeria To B3, Outlook Now Stable<\/title>\n<meta name=\"description\" content=\"Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outloo\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable\" \/>\n<meta property=\"og:description\" content=\"Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outloo\" \/>\n<meta property=\"og:url\" content=\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\" \/>\n<meta property=\"og:site_name\" content=\"Africa Today News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/africatodaynewsonline\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T09:18:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470\" \/>\n\t<meta property=\"og:image:width\" content=\"701\" \/>\n\t<meta property=\"og:image:height\" content=\"438\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff001\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@atndaily\" \/>\n<meta name=\"twitter:site\" content=\"@atndaily\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff001\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\"},\"author\":{\"name\":\"Staff001\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#\/schema\/person\/5008c3abe6f96b660905c680e145fe70\"},\"headline\":\"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable\",\"datePublished\":\"2025-06-01T09:18:24+00:00\",\"dateModified\":\"2025-06-01T09:18:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\"},\"wordCount\":468,\"publisher\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470\",\"keywords\":[\"Moody\u2019s\",\"nigeria\"],\"articleSection\":[\"General\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\",\"url\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\",\"name\":\"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable\",\"isPartOf\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470\",\"datePublished\":\"2025-06-01T09:18:24+00:00\",\"dateModified\":\"2025-06-01T09:18:24+00:00\",\"description\":\"Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outloo\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage\",\"url\":\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470\",\"contentUrl\":\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470\",\"width\":701,\"height\":438,\"caption\":\"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#website\",\"url\":\"https:\/\/africatodaynewsnewyork.com\/\",\"name\":\"Africa Today News\",\"description\":\"Breaking News from Africa\",\"publisher\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/africatodaynewsnewyork.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#organization\",\"name\":\"People & Polity Inc. New York\",\"url\":\"https:\/\/africatodaynewsnewyork.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2020\/01\/atn-logo.png\",\"contentUrl\":\"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2020\/01\/atn-logo.png\",\"width\":233,\"height\":39,\"caption\":\"People & Polity Inc. New York\"},\"image\":{\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/africatodaynewsonline\/\",\"https:\/\/x.com\/atndaily\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#\/schema\/person\/5008c3abe6f96b660905c680e145fe70\",\"name\":\"Staff001\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/africatodaynewsnewyork.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/88765ca208af364ea5202e1f88da649c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/88765ca208af364ea5202e1f88da649c?s=96&d=mm&r=g\",\"caption\":\"Staff001\"},\"url\":\"https:\/\/africatodaynewsnewyork.com\/author\/staff001\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable","description":"Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outloo","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/","og_locale":"en_US","og_type":"article","og_title":"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable","og_description":"Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outloo","og_url":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/","og_site_name":"Africa Today News","article_publisher":"https:\/\/www.facebook.com\/africatodaynewsonline\/","article_published_time":"2025-06-01T09:18:24+00:00","og_image":[{"width":701,"height":438,"url":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470","type":"image\/jpeg"}],"author":"Staff001","twitter_card":"summary_large_image","twitter_creator":"@atndaily","twitter_site":"@atndaily","twitter_misc":{"Written by":"Staff001","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#article","isPartOf":{"@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/"},"author":{"name":"Staff001","@id":"https:\/\/africatodaynewsnewyork.com\/#\/schema\/person\/5008c3abe6f96b660905c680e145fe70"},"headline":"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable","datePublished":"2025-06-01T09:18:24+00:00","dateModified":"2025-06-01T09:18:24+00:00","mainEntityOfPage":{"@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/"},"wordCount":468,"publisher":{"@id":"https:\/\/africatodaynewsnewyork.com\/#organization"},"image":{"@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage"},"thumbnailUrl":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470","keywords":["Moody\u2019s","nigeria"],"articleSection":["General"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/","url":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/","name":"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable","isPartOf":{"@id":"https:\/\/africatodaynewsnewyork.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage"},"image":{"@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage"},"thumbnailUrl":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470","datePublished":"2025-06-01T09:18:24+00:00","dateModified":"2025-06-01T09:18:24+00:00","description":"Moody\u2019s, the international credit rating agency, has upgraded Nigeria\u2019s sovereign rating from Caa1 to B3, while adjusting the outloo","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/africatodaynewsnewyork.com\/2025\/06\/01\/moodys-upgrades-nigeria-to-b3-outlook-now-stable\/#primaryimage","url":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470","contentUrl":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2025\/06\/WhatsApp-Image-2025-06-01-at-07.27.41_fb0cfc29.jpg?v=1748769470","width":701,"height":438,"caption":"Moody\u2019s Upgrades Nigeria To B3, Outlook Now Stable"},{"@type":"WebSite","@id":"https:\/\/africatodaynewsnewyork.com\/#website","url":"https:\/\/africatodaynewsnewyork.com\/","name":"Africa Today News","description":"Breaking News from Africa","publisher":{"@id":"https:\/\/africatodaynewsnewyork.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/africatodaynewsnewyork.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/africatodaynewsnewyork.com\/#organization","name":"People & Polity Inc. New York","url":"https:\/\/africatodaynewsnewyork.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/africatodaynewsnewyork.com\/#\/schema\/logo\/image\/","url":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2020\/01\/atn-logo.png","contentUrl":"https:\/\/africatodaynewsnewyork.com\/wp-content\/uploads\/2020\/01\/atn-logo.png","width":233,"height":39,"caption":"People & Polity Inc. New York"},"image":{"@id":"https:\/\/africatodaynewsnewyork.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/africatodaynewsonline\/","https:\/\/x.com\/atndaily"]},{"@type":"Person","@id":"https:\/\/africatodaynewsnewyork.com\/#\/schema\/person\/5008c3abe6f96b660905c680e145fe70","name":"Staff001","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/africatodaynewsnewyork.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/88765ca208af364ea5202e1f88da649c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/88765ca208af364ea5202e1f88da649c?s=96&d=mm&r=g","caption":"Staff001"},"url":"https:\/\/africatodaynewsnewyork.com\/author\/staff001\/"}]}},"cc_featured_image_caption":{"caption_text":"","source_text":"","source_url":""},"_links":{"self":[{"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/posts\/114963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/comments?post=114963"}],"version-history":[{"count":1,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/posts\/114963\/revisions"}],"predecessor-version":[{"id":114965,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/posts\/114963\/revisions\/114965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/media\/114964"}],"wp:attachment":[{"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/media?parent=114963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/categories?post=114963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/africatodaynewsnewyork.com\/wp-json\/wp\/v2\/tags?post=114963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}