Moody’s upgrades Kenya’s sovereign credit rating to B3 on the back of decline in near-term debt default risk
The ratings agency further underscored Kenya’s stronger external liquidity, significantly higher foreign exchange reserves that stand at $12.2 billion, according to the Central Bank, and a narrower current account deficit.
Ratings agency Moody’s warns Kenya’s debt costs are sky-high as government leans of domestic money market
Kenya will hold another round of talks with IMF officials in September in a bid to clinch the programme, the central bank chief Kamau Thugge said last month.
As African leaders fret about biased credit rating, here’s how continent’s craving for modernity fuelled debt bomb
Essential to the plan were the “Big Three” US-based credit rating agencies – S&P Global Ratings, Moody’s Ratings and Fitch Ratings, which together account for more than 90 per cent of global ratings. The rating agencies collected fees for their services and began applying their complex analyses to the region.
