Credit Ratings

Baa3 (Stable): Upgrade to investment grade, Baa3, in October 2017. In February 2022, Moody’s changed the outlook on TDB to stable from negative and affirmed the Baa3 long-term issuer and senior unsecured debt ratings, and the and the (P)Baa3 senior unsecured MTN programme rating.

BBB and A3 (Positive); Local Currency: AAA (KE): Upgrade to investment grade in September 2017. In September 2021, GCR revised the Outlook of TDB’s Long-Term Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at “BBB” and “A3”. At the same time, the Kenyan long and short-term issuer ratings have been affirmed at AAA(KE) and A1+(KE) respectively with outlook accorded as Stable.

BB+ (Positive): Rating raised to BB+ Stable from BB Positive in October 2018. In September 2021, Fitch Ratings revised the Outlook of TDB’s Long-Term Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at “BB+”. Fitch also affirmed the Bank’s Short-Term IDR at ‘B’ and National Rating at ‘AAA(ken)’ with a Stable Outlook.