Current Nigeria credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's B - 16 Sep 2016 rating downgrade
Moody's Investors Service B2 - 7 Nov 2017 rating downgrade
Fitch Ratings B+ - 5 Nov 2018 outlook upgrade
DBRS - -

Nigeria Credit Ratings: Long-term Rating Scales Comparison

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Grade S&P Moody's Fitch DBRS Description
Investment AAA Aaa AAA AAA Prime
AA+ Aa1 AA+ AA(high) High Medium Grade
AA Aa2 AA AA
AA- Aa3 AA- AA(low)
A+ A1 A+ A(high) Upper Medium Grade
A A2 A A
A- A3 A- A(low)
BBB+ Baa1 BBB+ BBB(high) Lower Medium Grade
BBB Baa2 BBB BBB
BBB- Baa3 BBB- BBB(low)
Speculative BB+ Ba1 BB+ BB(high) Speculative
BB Ba2 BB BB
BB- Ba3 BB- BB(low)
B+ B1 B+ B(high) Highly Speculative
B B2 B B
B- B3 B- B(low)
CCC+ Caa1 CCC+ CCC(high) Substantial Risk
CCC Caa2 CCC CCC
CCC- Caa3 CCC- CCC(low)
CC Ca CC CC Extremely Speculative
C Ca C C
RD C RD RD In Default
SD / SD SD
D / D D

Nigeria Credit Ratings historical data

Agencies:

Timetable of Nigeria credit ratings by S&P, Moody's, Fitch and DBRS agencies.

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Date S&P Moody's Fitch DBRS
5 Nov 2018 B+
7 Nov 2017 B2
25 Jan 2017 B+
16 Sep 2016 B
23 Jun 2016 B+
29 Apr 2016 B1
18 Mar 2016 B+
4 Mar 2016 Ba3
30 Mar 2015 BB-
20 Mar 2015 B+
21 Mar 2014 BB-
7 Nov 2012 BB- Ba3
29 Dec 2011 B+
21 Oct 2011 BB-
22 Oct 2010 BB-
21 Aug 2009 B+
27 Mar 2009 BB-
6 Feb 2006 BB-
30 Jan 2006 BB-

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