Fitch Rates Benue State ‘B-‘; Outlook Stable

Benue Investment and  Property Company BIPC says the Fitch Ratings has announced that it has assigned a long-term foreign-currency issuer default rating of ‘B-‘ to Benue State, along with a stable outlook,

In a statement signed by the managing director of Benue Investment and Property Company Dr. Raymond Asemakaha says the rating reflected  Fitch’s assessment of the state’s creditworthiness and  its ability to meet its financial obligations.

According to the statement, Benue State is honoured to receive international recognition from a reputable credit rating agency like Fitch Ratings. This acknowledgement stands as a testament to more commitment and implementation of sound fiscal policies,  that would promote transparency, and foster economic growth.

The statement also explains that the Fitch rating would facilitate access to global capital markets,  secure funding for infrastructure projects, social welfare initiatives, and other developmental programs that would promote investors’ confidence and bolster efforts to diversify the economy, create jobs, and improve the standard of living for the citizens.

It further states that the rating serves as a clear sign of the state’s prudent financial management, fiscal discipline, and transparency, which are essential elements for any entity seeking to attract investments.

According to the statement, a positive rating for the State will reflect positively on Nigeria’s overall investment climate as well as demonstrate the potential and opportunities that exist within the nation.

It reiterates and acknowledges the trust bestowed upon the state by Fitch Ratings and pledged to build upon the rating as well strive for continuous improvement.

The statement stresses that Benue State is  ready to explore new possibilities, implement progressive policies, and work hand-in-hand with  stakeholders to maximize the advantages offered by the Fitch rating

PR/ Shakirah Alabi