Credit Ratings

China Chengxin International Credit Ratings Co., Ltd. (CCXI)
AAA (Stable): TDB was rated for the first time by CCXI in September 2025. CCXI rated the Bank as investment grade, with a rating of AAA, and a stable outlook.

Japan Credit Rating Agency, Ltd. (JCR)
A- (Stable): In November 2025, JCR affirmed TDB’s investment grade rating, with a long-term issuer rating of A-, and a stable outlook.

GCR Ratings
BBB+/A2 (Stable): In October 2025, GCR affirmed TDB’s investment grade ratings, with international scale long and short-term issuer BBB+/A2 ratings, with a stable outlook. The Kenyan long and short-term issuer ratings were also affirmed at AAA (KE) and A1+ (KE) respectively, with stable outlooks as well.

Moody’s
Ba1 (Stable): In 2025, Moody’s maintained TDB’s Ba1 long-term issuer ratings, with a stable outlook.

Fitch
BB (Stable): In September 2025, Fitch revised TDB’s Long-Term Issuer Default Rating (IDR) to BB from BB+, with a stable outlook, and affirmed its short-term issuer default B rating and AAA(ken) national rating, with a stable outlook.

Japan Credit Rating Agency, Ltd. (JCR)
A- (Stable): In November 2025, JCR affirmed ESATF’s investment grade rating, with a long-term issuer rating of A-, and a stable outlook.

CARE Ratings (Africa) Private Limited (CRAF)
CARE MAU AAAf Fund Credit Quality Rating (FCQR): In October 2025, ESATF’s investment grade credit rating was affirmed by CRAF as AAAf.