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Moody’s downgrade of Kenya’s local currency ceiling highlights significant challenges facing the country’s economy. Moody’s Investors Service has downgraded Kenya’s local currency (LC) ceiling to B1 from Ba3.This means that Moody’s now sees a higher risk associated with financial obligations issued in Kenyan shillings.The credit rating company has also downgraded the government’s credit rating from B3 to Caa1.Moody’s Investors Service has downgraded Kenya’s local currency (LC) ceiling to B1 from Ba3. The credit rating company has also downgraded the government’s credit rating from B3 to Caa1. …

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