Why Did Moody’s Downgrade Eight Nigerian Banks Despite Escape From Recession?

  Why Did Moody’s Downgrade Eight Nigerian Banks Despite Escape From Recession? Moody’s Investors Service (Moody’s) has downgraded to B2 from B1 the long-term local currency deposit and issuer ratings of four Nigerian banks. It also downgraded the long-term local and foreign currency issuer ratings of another development bank. The agency, in its new rating…