Fitch affirms Kenya at B+

Fitch Ratings said it affirmed Kenya's long-term foreign currency issuer default rating of B+ and local currency rating of BB- with stable outlooks.

The short-term rating is affirmed at B and country ceiling at BB-.

"Kenya's ratings are supported by its economic diversity and sustained economic recovery since Q409. Nevertheless, high inflation and growing balance of payments pressures pose a downside risk to macroeconomic stability," said Veronica Kalema, director in Fitch's Sovereign group, in a news release.

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