What Moody's upgrading Kenya's credit rating means for Ruto

Global ratings agency Moody’s upgraded Kenya’s sovereign credit rating on Tuesday, delivering a second boost in days for President William Ruto’s cash-strapped administration and improving its prospects for accessing cheaper international credit. 

Moody’s lifted Kenya’s long-term foreign currency issuer rating to “B3” from “Caa1,” citing a reduction in the near-term risk of default.

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Global ratings agency Moody’s upgraded Kenya’s sovereign credit rating on Tuesday, delivering a second boost in days for President William Ruto’s cash-strapped administration and improving its prospects for accessing cheaper international credit. 

Follow The Standard
channel
on WhatsApp