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Co-op Bank, Equity and KCB get higher credit rating in review
Banks with higher credit ratings are able to borrow at cheaper rates and enjoy increased confidence from providers of various sources of funds such as deposits and share capital.
Equity Bank Kenya, Co-operative Bank of Kenya and KCB Bank Kenya have received a credit rating upgrade after improvement in Kenya's creditworthiness, which also influences how private firms are perceived by financiers.
Credit rating agency Moody's upgraded the country's top banks by one place in its ratings scales to B3 from Caa1 to match the rating issued to the country.
