Credit Ratings

Baa3 (Negative): Upgrade to investment grade, Baa3, in October 2017. In 2021, Moody’s maintained TDB’s IDR at “Baa3” with a negative Outlook.

BBB and A3 (Positive); Local Currency: AAA (KE): Upgrade to investment grade in September 2017. In 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 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.