Fitch Ratings has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) outlook from Stable to Positive, while affirming the IDR at “B-”. The National Long-Term Rating has also been revised to Positive from Stable and affirmed at “A-(nga)”.
The positive outlook reflects Benue State’s improved fiscal performance and alignment with Nigeria’s ratings.
Despite some volatility in operating balance and rising adjusted measures, the ratings indicate improved creditworthiness.
Dr. Raymond Asemakaha of Benue Investment and Property Company (BIPC) highlighted that the upgrade is due to the state’s effective fiscal policies and commitment to economic growth.
To him, this could attract investors and foster economic development.
(Daily Trust)