Credit Ratings

Baa3 (Stable): Upgrade to investment grade, Baa3, in October 2017. In 2020, Moody’s affirmed TDB’s Baa3 issuer and senior unsecured ratings and the (P) Baa3 senior unsecured MTN rating, with a negative outlook

BBB- (Stable); Local Currency: AAA (KE): Upgrade to investment grade in September 2017. In 2020, GCR Ratings has TDB’s international scale long and short-term issuer ratings of BBB and A3 respectively. At the same time, the Kenyan long and short-term issuer ratings have been affirmed at AAA(KE) and A1+(KE) respectively. The outlooks are Stable.

BB+ (Stable): Rating raised to BB+ stable from BB positive in October 2018. In 2020, Fitch Ratings affirmed TDB’s Long-Term Issuer Default Rating (IDR) at ‘BB+’ with a Stable Outlook. Fitch has also affirmed the bank’s Short-Term IDR at ‘B’ and National Rating at ‘AAA(ken)’ with a Stable Outlook