Boko Haram Attacks in Nigeria Weigh on Rating, Moody’s Says
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Attacks by Boko Haram in Nigeria are adding pressure to the nation’s credit rating as plunging oil prices undermine growth in Africa’s largest economy, according to Moody’s Investors Service.
The violence may be “weighing on investor demand for Nigerian assets at the moment,” Matt Robinson, manager of the Africa sovereign ratings team at Moody’s, said by phone from London yesterday. “We’re certainly seeing pressure on the currency, we’re seeing pressure on Nigeria’s bond prices, so it’s one of an array of downside risks.”