Nigeria Reacts as Fitch Upgrades Credit Outlook to Positive

Fitch Ratings has revised Nigeria's credit outlook from Stable to Positive. The agency cited growth in foreign exchange reserves, easing inflation, and economic reforms as key reasons for the change. The Nigerian government has responded to the upgrade. It sees the revision as a sign that its economic policies are working. A "credit outlook" is an agency's view on whether a country's ability to repay its debts is likely to improve or worsen. A move to "Positive" means the rating could be raised in the future.