(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

Source: http://feeds.reuters.com/~r/reuters/AfricaNigeriaNews/~3/UuWAd4wvRFU/idAFFit988210