Fitch Revises Lagos' Outlook to Negative; Affirms IDRs at 'B+'

(The following statement was released by the rating agency)

Link to Fitch Ratings' Report: Lagos State - Rating Action

Report

https://www.fitchratings.com/site/re/893865

MILAN/LONDON, January 31 (Fitch) Fitch Ratings has revised Lagos

State's Outlook

to Negative from Stable while affirming the Long-Term Foreign

and Local Currency

Issuer Default Ratings (IDRs) at 'B+'. The issue ratings on

Lagos' senior

unsecured bonds have also been affirmed at 'B+/AA+(nga)'. The

National Long-Term

Rating h

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