February 13, 2018 / 10:02 PM / 8 days ago

BRIEF-Moody's Downgrades Government Of Kenya's Issuer Rating To B2 And Assigns Stable Outlook

Feb 13 (Reuters) - Moody’s Corp:

* MOODY‘S DOWNGRADES GOVERNMENT OF KENYA‘S ISSUER RATING TO B2 AND ASSIGNS STABLE OUTLOOK

* MOODY‘S SAYS EXPECTS KENYA‘S FISCAL METRICS TO CONTINUE DETERIORATE, AS LARGE PRIMARY DEFICITS COMBINE WITH WORSENING DEBT AFFORDABILITY ,RISING DEBT LEVELS‍​

* MOODY‘S ON KENYA SAYS LOWERED LONG-TERM FOREIGN-CURRENCY BOND CEILING TO BA3 FROM BA2 AND THE LONG-TERM FOREIGN-CURRENCY DEPOSIT CEILING TO B3 FROM B2

* MOODY‘S ON KENYA SAYS LOWERED THE LONG-TERM LOCAL-CURRENCY BOND AND DEPOSIT CEILINGS TO BA2 FROM BA1

* MOODY‘S SAYS KENYA‘S GOVERNMENT WILL CONTINUE TO FACE LIQUIDITY PRESSURES DUE TO LARGE FINANCING NEEDS,INCREASED RELIANCE ON SOURCES OF FINANCING WITH LESS PREDICTABLE COSTS Source text for Eikon:

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