Current Nigeria credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's B- - 27 Mar 2020 rating downgrade
Moody's Investors Service B3 - 24 Oct 2022 rating downgrade
Fitch Ratings B- - 16 Nov 2022 rating downgrade
DBRS - -

Nigeria: Long-term Rating Scales Comparison

Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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

Nigeria Credit Ratings historical data

Not enough data.

Timetable of Nigeria credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Date S&P Moody's Fitch DBRS
16 Nov 2022 B-
24 Oct 2022 B3
30 Nov 2021 B2
1 Oct 2020 B
6 Apr 2020 B
27 Mar 2020 B-
29 Feb 2020 B
19 Dec 2019 B+
5 Dec 2019 B2
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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