Fitch Ratings has withdrawn Dangote Industries Limited’s (Dangote) National Long-Term Rating and senior unsecured rating of ‘B+ (nga)’, while keeping them on Rating Watch Negative (RWN).
The global rating agency explained that the Rating Watch Negative status remains unresolved due to the company’s pending debt refinancing.
Fitch has announced that it will no longer provide ratings or analytical coverage for Dangote Industries, citing commercial reasons for the withdrawal.
Also Read
Dangote, a leading conglomerate in Nigeria and West Africa, operates across key sectors including cement, fertilizer, oil refining, and food.
Meanwhile, the Central Bank of Nigeria (CBN) has opened a foreign exchange (FX) window, allowing Bureau de Change (BDC) operators to stock up at the Nigerian Foreign Exchange Market (NFEM) rate.
