25 JUN 2020|Issuer Comment|MOODY'S INVESTORS SERVICE
Kenya's government will struggle to narrow the fiscal deficit in fiscal 2021, as low growth and previously announced tax cuts weigh on revenue collection.
Banking – Central & Eastern Europe: Higher credit costs and lower interest rates erode profitability for the largest CEE banks
23 JUN 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
Loan-loss provisioning costs rise in the first quarter as borrower finances are hurt by the coronavirus crisis.
Government of the Republic of the Congo: Debt moratorium provides modest liquidity relief, risks for private creditors consistent with Caa2 rating
12 JUN 2020|Issuer Comment|MOODY'S INVESTORS SERVICE
Participation in the G-20 DSSI will modestly ease pressures from the oil price shock. Although the relief increases risks for private creditors, they are consistent its Caa2 rating.
Sovereigns – West Africa: West Africa's currency reform benefits from continued convertibility guarantee
09 JUN 2020|Sector Comment|MOODY'S INVESTORS SERVICE
As long as the currency backstop in WAEMU remains effective and credible, the reforms to institute the ECO will have no significant sovereign credit implications.
Government of Egypt: FAQ on the impact of coronavirus on event risk, public finances and longer-term credit trends
08 JUN 2020|Issuer In-Depth|MOODY'S INVESTORS SERVICE
Egypt's improved financial shock-absorption capacity is balanced by the uncertain pandemic impact on growth and on fiscal metrics, and supported by improved policy credibility, effectiveness
Government of Niger: Niger's participation in G-20 debt-service relief carries risks for private creditors
05 JUN 2020|Issuer Comment|MOODY'S INVESTORS SERVICE
Participation in the G-20 debt-relief initiative provides short-term liquidity relief but entails risks for private creditors, which could have negative rating implications.
Government of Namibia: Slower-than-expected debt stabilisation increases Namibia's vulnerability to global financial conditions
01 JUN 2020|Issuer Comment|MOODY'S INVESTORS SERVICE
Short-term measures to combat the coronavirus pandemic will increase Namibia's debt and add to its debt burden, but a return to fiscal consolidation will be the long-term challenge.
Sovereigns – Sub-Saharan Africa: World Bank's emergency funding for East Africa points to risks from intensifying locust swarms
22 MAY 2020|Sector Comment|MOODY'S INVESTORS SERVICE
The package provides funding for governments already challenged by the coronavirus pandemic and locust swarms, but the aid is modest relative to the magnitude of those twin shocks.
21 MAY 2020|Issuer In-Depth|MOODY'S INVESTORS SERVICE
An in-depth analysis of the AFC's credit profile, highlighting sound capital adequacy that balances weak borrower quality and asset performance against healthy profitability and low leverage
Banks – South Africa: South Africa's loan guarantee scheme will mitigate coronavirus strain on banks' SME loan portfolio
18 MAY 2020|Sector Comment|MOODY'S INVESTORS SERVICE
The scheme is designed to support small and midsize enterprises and may partially mitigate the pandemic's negative effect on banks' asset quality. However, their credit profiles will weaken