Kenya Credit Rating


Kenya Credit Rating by Different Agencies

Kenya records a strong growth potential and macroeconomic stability relative to peers, along with a favourable government debt structure. These factors are balanced against rising public debt levels, high net external indebtedness, and GDP-per-capita and governance indicators that are below the ‘B’ range medians.

According to the recent credit ratings for Kenya in March 2021, Kenya has strong growth potential. One of the key strengths is the five-year average GDP growth rate to 2019 which was 5.7%, above the historical ‘B’ category median of 4.6% and the structure of government debt is favourable, with less than 50% in foreign currency. Further, Kenya’s developed domestic debt market increases her financing flexibility. In addition, Kenya’s business environment is more favourable than the ‘B’ median and has improved its ranking from position 61 (2019) to 56th position under the World Bank’s “Doing Business 2020” assessment.

Date Credit Rating Agencies  Action
Standard & Poors (S&P) RatingsMoody’s Investors Service RatingsFitch Ratings
7th May, 2021B+Outlook downgrade
8th March 2021B--Rating Downgrade by S& P
15th July 2020B+
19th June 2020B+
8th May 2020B2Outlook Downgrade
13th Feb. 2018B2
9th Feb.2020B+
14th Oct. 2020B+
16th Oct.2015B+
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