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Fitch Ratings has withdrawn the Nigerian State of Kwara's Long-Term foreign and local currency ratings of 'B+' and Long-Term National Rating of 'AA-(nga)'with Stable Outlooks. The agency has simultaneously withdrawn the Long-term ratings of 'B+' and 'AA-(nga)' on the NGN17bn bond maturing in 2014.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.
Saliu Mustapha Oluwole Dupe Yusuf Mubarak Idofin Kwabes Abdulganiyu Oladosu Gobirawa Ilorin Like-Minds Sheriff Olanrewaju Women Radio Plat Technologies Shuaib Jawondo Salaudeen Oyewale Oba-Solagberu Abdulazeez Uthman Muslim Stakeholders Of Kwara State Chief Imam Of Lafiagi Abdulwaheed Musa JMK Construction Company Limited Abdulrazaq Magaji Mahmud Ajeigbe Alikinla Ishaq Salman AIT Ilorin Kwara State Council Of Chiefs Facebook Kamaldeen Kehinde JSSCE Yahaya Dumoye Idowu Laro Bureau Of Lands Toyin Abdullahi Kayode Alabi Aliyu Umar Idris Garba Samuel Adedoyin Geri-Alimi Split Diamond Interchange Bamidele Adegoke Oladimeji Erubu Oba Zubair Kola Shittu Offa Descendants Union Government High School (GHS), Adeta Kudirat Arinola Lawal Wahab Egbewole Adesoye College Bature Bello Adamu B. Yaqubu SAPZ Project Convocation Ceremonies Ajayi Okasanmi Salmon Babatunde Salmon Ilorin Emirate Stakeholders Forum Village Alive Development Association Presidential Election Samuel Adaramola Abdulrauf Aliyu Abdulrahman Abdulrasaq Saudat Abdulbaqi Olam Food Ingredients General Hospital, Ilorin Sabi Oniye April 11 Kwara Muslim Pilgrims Welfare Board Abdulganiyu Salahudeen Adolescent Girls Initiative For Learning And Empowerment Al-Ilory Abegunde Goke KWTV Abdulbaqi Jimoh Yusuf Zulu-Gambari SGBN Kwara Mohammed Katsina Ahmed Abdulmalik Bashir Mopelola Risikatullahi Alaro Oko