An internationally-renowned rating agency, Fitch Ratings, has upgraded Lagos State ratings from AA+ to AAA for its good standing in terms of debt sustainability and resilience.

Communicating the development to the Lagos State Commissioner for Finance, Dr. Rabiu Olowo, FitchRatings said the feat was published in the 2020/2021 rating report, noting that the upgrade of the national long-term rating reflects Lagos State’s strength compared with national peers, as well as its resilient operating performance during the pandemic.

The congratulatory message, signed by the Senior Director, Head Sub-Saharan Africa, Mr. Andrew Parkinson, said: “I just want to say congratulations on the upgrade to AAA (nga). This is a fantastic achievement and an endorsement of all the good works going on.”