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BRIEF-Fitch affirms Kenya at 'B+'
December 23, 2016 / 8:27 AM / a year ago

BRIEF-Fitch affirms Kenya at 'B+'

Dec 23 (Reuters) - Fitch on Kenya

* country ceiling has been affirmed at ‘BB-’ and short-term foreign and local currency idrs at ‘B’

* Kenya’s large and persistent fiscal deficits have led to steady increase in gross general government debt, to 55% of gdp at end-fy16 from 42% at end-fy13

* estimate current account deficit declined to 6.6% of GDP in 2016, from 9.8% in 2014, due to tapering capital imports and lower oil prices

* Kenya’s IMF programme provides additional support for external position

* Fitch affirms Kenya at ‘B+'; negative outlook

* forecasts a fiscal deficit of 7.1% of GDP for fiscal year ending June 2017

* medium-term growth outlook remains strong Source text for Eikon:

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