Moody's Downgrades Kenya's Debt Rating and Warns of Negative Outlook

Tuesday, 9 July 2024, 08:54

Moody's has downgraded Kenya's debt rating deeper into junk territory after protests caused the government to scrap proposed tax increases. The negative outlook from Moody's is expected to raise borrowing costs for the financially strained government.
Yahoo Finance
Moody's Downgrades Kenya's Debt Rating and Warns of Negative Outlook

Moody's Downgrades Kenya's Debt Rating

Moody's has downgraded Kenya's debt rating further into junk territory.

Protests Impact Government Decisions

A wave of protests led the government to abandon proposed tax hikes.

Increased Borrowing Costs Expected

The new rating and negative outlook are likely to raise borrowing costs for the government.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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