African Union Outlines Moody's Error in Revising Kenya’s Economic Outlook to Positive

The African Union (AU) through its African Peer Review Mechanism (APRM) has disputed Moody's Global Credit Rating Agency's recent decision to revise Kenya's economic outlook from negative to positive.

Moody's, while projecting improvement in the country's economy, cited a potential ease in liquidity risks and continued improvement in debt affordability over time.

However, APRM on Monday, January 27, revealed that Moody's made an error by drastically shifting the country's outlook from 'negative' to 'positive' and skipping a 'stable' position.

While taking issue with the rating, APRM noted that the credit rating agency's recent announcement was an attempt to amend a mistake it made last year when it downgraded Kenya's economic outlook to negative.