Fitch affirms Kaduna

Fitch Ratings said it affirmed the Nigerian State of Kaduna's long-term foreign- and local-currency ratings at B+ and its national long-term rating at A+(nga).

The outlook is stable.

The ratings reflect prospects of stable operating performance, combined with strong debt and debt service coverage, Fitch said.

The ratings also take into account limited budget predictability and weak internally generated revenues, the agency said.

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