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The good, bad and ugly in global credit ratings
Guests follow proceedings during the S&P Global Ratings seminar on Credit Trends in August. Markets have a way of adjusting to new information as provided by the various rating agencies. FILE PHOTO | NMG
In October, global ratings agency Moody’s warned of a likely downgrade of credit and deposit scores of three Kenyan banks – KCB, Equity and Co-operative, citing the country’s deteriorating fiscal strength and liquidity.
The agency had just placed Kenya’s B1 rating on review for downgrade due to persistent deficits as high borrowing costs continue to drive government indebtedness higher, among other factors.
