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Maroc Maroc - iafrica.com - A La Une - 08/Aug 09:10

Fitch Downgrades Dangote Industries’ Rating Over Liquidity and Devaluation Issues

Fitch Ratings has downgraded Dangote Industries Ltd.’s credit rating from ‘AA(nga)’ to ‘B+(nga)’. The rating agency also dropped the senior unsecured debt rating for Dangote Industries Funding Plc to ‘B+(nga)’, with both ratings placed on Rating Watch Negative. The downgrade stems from the group’s poor liquidity – the result of disposal proceeds as well as… 

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