Moody's Downgrades Kenya's Debt Rating and Issues Negative Outlook

Tuesday, 9 July 2024, 10:29

Moody's has downgraded Kenya's debt rating even deeper into junk territory due to a recent series of protests that forced the government to scrap planned tax increases. The outlook is negative, signaling potential financial challenges ahead for the country.

Moody's Downgrades Kenya's Debt Rating

Moody's has downgraded Kenya's debt rating further into junk territory and warned the outlook was negative after a wave of protests led the government to abandon proposed tax hikes.

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