An international rating agency, Moody’s Investors Service, has downgraded nine Nigerian banks following its downward review of Nigeria’s rating last week.
Moody’s, an international rating agency, downgraded to Caa1 from B3 the long-term deposit ratings, issuer ratings as well as the senior unsecured debt ratings all the nine lenders.
The statement added that Moody’s also changed the outlook to stable on the long-term deposit ratings, issuer ratings as well as senior unsecured debt ratings (where applicable) of the nine rated Nigerian banks.
