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Originally published by The Standard BusinessJanuary 26, 2026
2w ago
Ratings agency Fitch gives Kenya a stable outlook, easing debt fears
The government received a crucial vote of confidence from Fitch Ratings after it affirmed the country's long-term foreign-currency issuer default rating at 'B-' with a stable outlook...
✨ Key Highlights
Fitch Ratings has affirmed Kenya's long-term foreign-currency issuer default rating at 'B-' with a stable outlook, averting a downgrade that National Treasury officials warned could severely impact the economy. This decision provides relief to President William Ruto's administration amidst high debt repayments and fiscal pressures.
- Fitch noted that Kenya's external liquidity pressures have moderated due to the government's proactive liability management, including the refinancing of a $1 billion Eurobond and a partial buyback of a $900 million bond.
- The National Treasury's Medium-Term Debt Management Strategy (MTDS) had previously highlighted the risk of credit rating downgrades, warning of increased borrowing costs and limited access to external financing.
- Kenya's public and publicly guaranteed debt stood at 67.8 percent of GDP by end-June 2025, with the present value of debt expected to remain above the country's 55 percent benchmark until 2029.
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