Fitch Rates Kenya’s Upcoming USD Notes ‘B+; Outlook Stable

Fitch Affirms Kenya at B+ With Stable Macroeconomic Outlook

Fitch Ratings has assigned Kenya’s upcoming US dollar denominated senior unsecured notes an expected rating of ‘B+.

“The expected rating is in line with Kenya’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’, which has a Stable Outlook,” said Fitch.

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In April, Fitch affirmed Kenya’s Long-Term Foreign- and Local-Currency IDRs at ‘B+’ with a Stable Outlook.

A credit rating is used by sovereign wealth funds, pension funds, and other investors to gauge the creditworthiness of Kenya thus having a big impact on the country’s borrowing costs.

Fitch’s credit ratings do not directly address any risk other than credit risk.