Moody’s Downgrades Ratings of Three Major Kenyan Banks Amid Sovereign Stress

• KCB Bank Kenya, Equity Bank Kenya, and Co-operative Bank of Kenya downgraded to Caa1
• High exposure to government debt and challenging operating environment cited

Nairobi, Kenya – Moody’s Ratings has downgraded the long-term deposit ratings of three Kenyan banks: KCB Bank Kenya, Equity Bank Kenya, and Co-operative Bank of Kenya Limited, citing the weakened credit profile of the government.