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.
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.