Three Kenyan banks affirmed

Three Kenya-based financial services companies long-term deposit ratings have been kept at B2, with negative outlooks, by Moody’s Investors Service.

Moody’s has affirmed KCB Bank Kenya, Equity Bank and Co-operative Bank of Kenya (Co-op Bank)

GCR has affirmed the three Kenya-based financial services providers on their resilient capital levels and solid funding and liquidity profiles.

The negative outlooks reflect the three companies’ sizable holding of country debt securities which links their creditworthiness to that of the Government of Kenya.