Credit Ratings
Japan Credit Rating Agency, Ltd. (JCR)
A- (Stable): TDB was rated for the first time by JCR in October 2024. JCR rated the Bank as investment grade, with a long-term issuer rating of A-, with a stable outlook. As per JCR’s definition, the rating is associated to a high level of certainty to honour financial obligations.
Latest rating action: 1 November 2024
GCR Ratings
BBB+/A2 (Stable): In September 2023, GCR affirmed TDB’s investment grade ratings, with international scale long and short-term issuer BBB+/A2 ratings. These ratings were affirmed again in October 2024, with stable outlooks. The Kenyan long and short-term issuer ratings were also affirmed at AAA (KE) and A1+ (KE) respectively, with stable outlooks as well.
Latest rating action: 24 October 2024
Moody’s
Ba1 (Stable): In October 2023, Moody’s affirmed TDB’s investment grade Baa3 ratings on its long-term issuer rating and senior unsecured debt ratings, as well as its (P)Baa3 senior unsecured MTN programme rating, with a revised negative outlook. In October 2024, Moody’s revised TDB’s ratings to Ba1 from Baa3, changing the outlook from negative to stable.
Latest rating action: 18 October 2024
Fitch
BB+ (Negative): In September 2024, Fitch affirmed TDB’s long-term issuer default BB+ rating, with a revised outlook from stable to negative, and affirmed its short-term issuer default B rating and AAA(ken) national rating, with a stable outlook.
Latest rating action: 13 September 2024
ESATF Trade Fund Ratings
Japan Credit Rating Agency, Ltd. (JCR)
A- (Stable): ESATF was rated for the first time by JCR in October 2024. JCR rated the trade fund as investment grade, with a long-term issuer rating of A-, with a stable outlook. As per JCR’s definition, the rating is associated to a high level of certainty to honour the financial obligations.
Latest rating action: 1 November 2024
CARE Ratings (Africa) Private Limited (CRAF)
CARE MAU AAAf Fund Credit Quality Rating (FCQR): ESATF was rated for the first time by CRAF in September 2024. CRAF rated the trade fund as AAA. As per CRAF’s definition, funds with this rating are considered to have the highest degree of safety regarding timely receipt of payments from the investments that they have made.
Latest rating action: 6 September 2024