Africa's Largest Oil Producers Cut by Moody's After Review

Updated on
  • Angola, Congo, Nigeria, Gabon ratings cut on oil price slump
  • Moody's conclusions pending for five of six GCC countries

The credit ratings of Nigeria and Angola, Africa’s two biggest oil producers, were among four countries downgraded by Moody’s Investors Service, citing the negative impact depressed oil prices have had on these governments’ balance sheets, liquidity and creditworthiness.

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