LONDON, Jan 31 (Reuters) - Nigeria's sovereign
dollar-denominated bonds dropped sharply for a second day in a
row after Moody's downgraded the West African oil producer on
Friday to Caa1 from B3, saying it expected the government's
fiscal and debt situation to keep getting worse.
Longer-dated maturities were again the biggest losers, with
the 2049 Eurobond falling more than 2.2 cents to 75.344 cents in
the dollar, according to Tradeweb data .
Nigeria's foreign exchange reserves fell slightly to $37.04
billion on January 27, from $37.08 billion on Dec. 30, the
central bank said on Tuesday.
(Reporting by Rachel Savage, Editing by Chijioke Ohuocha)
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