Moody’s applies B2 to Kenya bonds

Moody's Investors Service said it assigned a provisional B2 rating to Kenya's planned dollar-denominated bond issuance.

The rating mirrors the B2 issuer rating of the Kenyan government.

The senior unsecured notes will rank pari passu with all of the government's current and future senior unsecured debt obligations.

As planned by the Kenyan budget, proceeds will help the government meet its financing needs.

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