Nigeria, Oct. 10 -- Fitch Ratings, a leading provider of credit ratings, commentary and research for global capital markets, has revised the outlook on Nigeria's long-term Issuer Default Ratings (IDR) to positive from stable, citing economic reforms that are yielding positive outcomes.

The rating agency, in its rating action report issued on Friday and seen by PREMIUM TIMES, also affirmed the IDRs at 'B'.

An IDR is a forward-looking view by Fitch Ratings on an entity's relative vulnerability to default on its financial obligations.

'B' ratings imply that a material default risk exists, while the capacity for continued payment is prone to deterioration in the business and economic environment, even though there is a limited margin of sa...