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Moody’s changes outlook on Kenya’s rating to negative from stable; affirms the B2 rating
Nairobi (Capital Markets of Nigeria) — Moody’s Investors Service, (“Moody’s”) has changed the outlook on the Government of Kenya’s ratings to negative from stable. Concurrently, Moody’s has affirmed Kenya’s B2 issuer and senior unsecured ratings. The negative outlook reflects the rising financing risks posed by Kenya’s large gross borrowing requirements, which include amortization of external bilateral debt and the need to refinance a large stock of short-term domestic debt, at a time when the fiscal…
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