81777
Fitch Rates  Kenya Stable
Fitch Rates  Kenya Stable

Fitch Rates Kenya Stable

Fitch Rates Kenya Stable

Credit rating agency Fitch has revised the outlook on Kenya’s long-term foreign and local-currency default rating to stable from negative and affirmed a rating of B+. The revision is based on Fitch’s assessment that Kenya’s debt–currently at 52% of GDP–trajectory will stabilize at around 59% but it will be balanced with an expected GDP growth in the year, AllAfrica reported. The rating agency expects a narrowing of the fiscal deficit and the fiscal consolidation path will help steady public debt levels. Genghis Capital Analyst Churchill Ogutu says the stable rating plus strong macroeconomic stability will help treasury attract investors to a proposed Sh200 billion ($1.98 billion) eurobond paper set to be issued in the first quarter of 2018. “The rating will be seen favorably by investors just ahead of the eurobond roadshow (in the US and UK). GDP is expected to rebound this year from 2017, inflation seems to be within target levels so investors see things looking up for Kenya,” said Ogutu.

 

Short URL : https://goo.gl/2P9tMd
  1. https://goo.gl/WJxt2E
  • https://goo.gl/JQpMqV
  • https://goo.gl/wUKeTv
  • https://goo.gl/8p7HYx
  • https://goo.gl/1GhVQ9

You can also read ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
Pak Current Account Gap Widens
Pakistan’s current account deficit widened 28.74% on a month-...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus