Fitch Ratings has assigned Kenya's upcoming US dollar denominated senior unsecured notes an expected rating of 'B+(EXP)'.
The assignment of the final rating is contingent on the receipt of final documents materially conforming to information already reviewed.
KEY RATING DRIVERS
The expected rating is in line with Kenya's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B+', which has a Stable Outlook.
RATING SENSITIVITIES
The notes' rating is sensitive to changes in Kenya's Long-Term Foreign-Currency IDR.
On 29 April 2019, Fitch affirmed Kenya's Long-Term Foreign- and Local-Currency IDRs at 'B+' with a Stable Outlook.
