Fitch affirms BoI’s sovereign rating, stable outlook

Fitch Ratings has re-affirmed the national ratings of the Bank of Industry (BoI) describing its outlook as stable, even as it downgraded the support ratings of other banks. Fitch had last year downgraded Nigeria’s Long-Term Local Currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘, as a result of which it is now equalised with ...