S&P revises Kenya to stable

S&P said it revised its outlook on the Republic of Kenya to stable from negative and affirmed its B+/B long- and short-term foreign and local currency sovereign credit ratings.

S&P said the outlook revision reflects its expectation that Kenya's strong growth performance will continue to offset more volatile fiscal and external performance, despite recent improvements.

The agency expects strong growth performance will also underpin fiscal consolidation efforts and that government and external debt will stabilize close to or at current levels.

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