EM CEEMEA CREDIT: Kenya: IMF visit concluded, neutral
Oct-10 13:33
(KENINT; Caa1pos/B/B-)
• Neutral read. For reference, in secondary market, recently issued KENINT 7.875 Oct33 chart at approx. 8.56% yield or z+505bp area, having launched on 2 Oct at 8.20% yield.
• In a press release, the Fund has confirmed that its visit to Kenya, started on 25 Sep, has now concluded.
• The Fund cites initial discussions on a reform agenda, focus on fiscal policy and debt sustainability among others.
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