This archive report was first published on 2 October 2019.
On October 2, 2019, Moody's Investors Service announced that it had completed a periodic review of Kenya's credit rating, which is expected to be released soon.
The review, which did not involve a rating committee, did not indicate whether a credit rating action is likely in the near future, according to a statement from the agency.
Kenya currently holds an issuer rating of B2, which is supported by its 'moderate' economic strength. This reflects the relative diversification of the economy and high growth rates, despite low wealth levels.
However, the country's economic growth rate has averaged below five percent in the past decade, significantly below the Vision 2030 target of 10 percent.
Moody's also noted that Kenya's institutional strength is 'low', reflecting weak policy effectiveness and credibility, weak rule of law, and elevated corruption.
Despite these challenges, the agency highlighted the country's strong statistical transparency as a mitigating factor.
