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Morgan Stanley Upbeat on Nigeria’s Sovereign Bonds, sees Upgrade Cycle

Morgan Stanley turned positive on Nigerian sovereign bonds, saying the country is better placed to weather low oil prices and predicting more credit-rating upgrades. Emerging-market sovereign strategist Neville Mandimika raised his view on Africa’s largest oil producer to a “like stance,” citing its improved finances and growing foreign currency reserves, according to a note published by Bloomberg. [...]