Browsing: Moody’s

Stable outlook from Moody’s signals optimism for EAIF’s infrastructure financing in Africa

Investing September 30, 2024

Moody’s has affirmed the long-term foreign-currency issuer rating of the Emerging Africa Infrastructure Fund (EAIF), a multi-donor financing mobilizer at A2, with a stable outlook.
EAIF says this endorsement is a pointer to its strong capital position and highly rated shareholder base.
Founded in 1991, EAIF says has concluded nine rounds of raising funds for infrastructure development in the past two decades.

Global rating agency Moody’s has affirmed the Emerging Africa Infrastructure Fund (EAIF) long-term foreign-currency issuer rating at A2, with a stable outlook.

According to the Jo’burg-based fund, this endorsement signals its “strong capital position, and highly rated shareholder base,” a pointer to resilience in Africa’s infrastructure financing market.

“We are delighted that EAIF’s consistent track record of performance – despite a challenging macroeconomic operating environment – has been reflected in our retention of the A2 rating,” said Martijn Proos, Co-head of Emerging Market Alternative Credit at Ninety One, …

Tough economic choices for Kenya as Moody’s cuts ratings to Caa1, outlook negative

Countries July 9, 2024

Ratings agency Moody’s has downgraded Kenya’s local and foreign-currency long-term issuer ratings to Caa1 from B3, with a negative outlook.
This downgrade ushers the economy into an era of reduced capacity to rollout revenue-based fiscal consolidation.
The move also has broader implications for the country’s near-term economic stability.

East Africa’s giant economy is at a pivotal moment following ratings agency Moody’s move to downgrade its local and foreign-currency long-term issuer ratings to Caa1 from B3, with a negative outlook.

This downgrade, which comes just a week after a three-week nationwide revolt forced the government to shelve the Finance Bill 2024, ushers the economy into an era of reduced capacity to roll out revenue-based fiscal consolidation. This negative outlook also has broader implications for the country’s near-term economic stability, Moody’s states.