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S&P Global to acquire majority stake in Africa’s Agusto & Co.

S&P Global has agreed to acquire a majority stake in Agusto & Company Limited, a leading Pan-African credit rating agency, in a move aimed at strengthening its presence in Africa’s domestic debt markets and enhancing credit transparency across the continent. The transaction, which is subject to regulatory approvals, will support the expansion strategy of S&P […]

Finance

SEC, NGX hail S&P DJI for including Nigeria in frontier market watchlist

Nigeria’s capital market regulators have hailed the S&P Dow Jones’ Watchlist inclusion, saying it is a confirmation of the growing global confidence in Nigeria’s capital market, even as the Securities and Exchange Commission reinforced its commitment to policy consistency. On Wednesday, July 8, S&P DJI added Nigeria to the Watchlist for potential upgrade from Standalone […]

featured Finance

S&P upgrades Nigeria’s sovereign credit rating to ‘B’

S&P Global Ratings has upgraded Nigeria’s long-term foreign and local currency sovereign credit ratings to “B” from “B-”, citing improvements in the country’s macroeconomic profile, external position, and ongoing economic reforms. The United States-based global ratings agency announced the upgrade on Friday while affirming Nigeria’s short-term ratings at “B” with a stable outlook. According to […]

Opinion

S&P rejects bias in African sovereign credit ratings

S&P Global Ratings has rejected renewed allegations that it applies unfair or biased standards to African sovereign credit ratings. The firm insists that all countries are assessed using the same transparent and long-established criteria. S&P’s global head of sovereign ratings, Roberto Sifon-Arevalo, made this assertion in an interview on Thursday, as quoted by Bloomberg. He […]