Rating blow for Kenya over debt

For every Sh10 collected, Sh2 goes to servicing debt. [Photo: Courtesy]

Global rating firm Moodys has cited Kenya’s spiralling debt as the reason for downgrading the country’s credit score rating.

The rating firm said for every Sh10 the Government collects in tax revenue, Sh2 goes to servicing debt, attesting to the unsustainable nature of the country’s debt burden.