Uganda DFI rating upheld

A Uganda-based development finance institution’s long-term issuer default rating (IDR) has been kept at B+ by Fitch Ratings.

The rating agency has affirmed Uganda Development Bank (UDB) on high propensity of support from the Ugandan government.

Meanwhile, Fitch has kept UDB’s outlook at negative to reflect Uganda’s rating.

This comes after Fitch pulled down UDB’s outlook to negative from stable following the revision of Uganda’s rating, earlier in 2020.

See issuer profile here