From Uche Nnorom, Makirdi
Fitch ratings has revised the Outlook on Benue State’s Long-Term Issuer Default Rating (IDR) to positive from stable and affirmed the IDR at ‘B-’.
Fitch has also revised the Outlook on Benue’s National Long-Term Rating to Positive from Stable and affirmed the rating at ‘A-(nga)’, for Benue State.
This was contained in a press statement made available to newsmen by the Managing Director/CEO Benue Investment and Property Company, BIPC Dr. Raymond Asemakaha on Wednesday.
According to him, “the revision of the Outlooks reflects Benue’s improved fiscal performance in all indicators, its IDRs are aligned with Nigeria’s (B-/Positive) while the ‘b-’ Standalone Credit Profile (SCP) reflects Benue’s volatile operating balance.
He also noted that the rating reflects Fitch’s assessment of the state’s creditworthiness and highlighted its ability to meet its financial obligations.
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