Moody’s lowers BOI Finance

Moody’s Investors Service said it downgraded BOI Finance BV’s senior secured rating to B3 from B2 and parent Bank of Industry’s issuer and corporate family ratings to B3 from B2. Additionally, the agency put both entities’ ratings on review for further downgrade.

“Today's rating action follows Moody's decision on Oct. 21, 2022, to downgrade the long-term issuer ratings of the government of Nigeria to B3 from B2, and to place the rating of the government of Nigeria on review for further downgrade,” the agency said in a press release.

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