Nigeria Targets Investment Grade, Return to JPMorgan Bond Index

Nigeria says it is aiming for an investment-grade credit rating and a return to JPMorgan Chase & Co.’s flagship emerging-market government bond index to attract more capital and deepen its capital markets. Finance Minister Taiwo Oyedele made the comments as part of government efforts to improve market access and investor confidence. The article notes the state is also working with MSCI Inc. as it pursues changes intended to strengthen Nigeria’s standing in global benchmarks. The targeted upgrade and index re-entry would be significant for portfolio investors who track such references when allocating to emerging-market debt.