# Inside Kenya's Moody's Rating Upgrade

An episode of [The Mwango Capital Podcast](https://invisiblenetwork.ai/podcast/1583367792), 16 Mar 2026, 43 min.

Audio: https://api.substack.com/feed/podcast/191055011/7e31e845aeeea9d49bbcd451352f5f36.mp3

In this episode, recorded on February 4, 2026, we deep dive into Kenya’s recent Moody’s rating upgrade with David Rogovic, VP & Senior Credit Officer at Moody's Ratings. Subscribe to get notified when we make a new post. Show Notes 00:00:00 Introduction 00:03:27 Methodology in Ratings 00:06:59 Kenya’s Upgrade Explained 00:10:18 FX Reserves, KES Stability, Market Access, and Buybacks 00:16:51 Securitization, Domestic Borrowing, and Revenue Risks 00:25:16 Outlook and Key Risks 00:29:04 How does Kenya compare to Peers on Debt Distress? 00:32:09 Public Private Partnerships and the Macro-Micro Divide 00:37:31 ESG Scores and Ratings Withdrawal 00:41:24 Key Takeaways and Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

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