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Fitch: Kenya Loan Rate Cap Hits Banks' Loan Spreads and Lending

(The following statement was released by the rating agency) LONDON, October 16 (Fitch) Kenya's cap on loan rates and its floor on deposit rates have had a dramatic impact on the spread between banks' lending and deposit rates, which have halved on average since implementation just over a year ago, Fitch Ratings says. The loan cap is also causing banks to reduce their lending to the private sector as they can no longer price fully for higher risks. All banks saw a sharp reduction in loan spreads

Fitch Affirms Autonomous Community of Andalusia at 'BBB-'; Outlook Stable

(The following statement was released by the rating agency) BARCELONA/PARIS/LONDON, October 20 (Fitch) Fitch Ratings has affirmed the Autonomous Community of Andalusia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with Stable Outlooks. Fitch has also affirmed the Short-Term Foreign-Currency IDR at 'F3'. Fitch has also affirmed the 'BBB-' ratings on Andalusia's outstanding senior unsecured bonds and the 'BBB-' and 'F3' ratings on Andalusia's commercial paper (pag

Fitch Affirms Paris at 'AA'; Outlook Stable

(The following statement was released by the rating agency) PARIS, October 20 (Fitch) Fitch Ratings has affirmed the City of Paris's Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) at 'AA' and Short-Term Foreign-Currency IDR at 'F1+'. The Outlook is Stable. Fitch has also affirmed the city's EUR6 billion euro medium-term notes (EMTN) programme and senior unsecured notes at 'AA'/'F1+'. Paris's EUR800 million commercial paper programme (TCN; Titres de creances negociables) has a

Fitch Affirms French Region of Occitanie at 'AA'; Outlook Stable

(The following statement was released by the rating agency) PARIS, October 20 (Fitch) Fitch Ratings has affirmed the French Region of Occitanie's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'AA' with Stable Outlooks and Short-Term Foreign-Currency IDR at 'F1+'. Fitch has also affirmed Occitanie's EUR300 million French commercial paper programme (Titres de creances negociables; TCNs) at 'F1+'. KEY RATING DRIVERS The ratings of Occitanie factor in its sound operating mar

Fitch Affirms Kazakhstan at 'BBB'; Outlook Stable

(The following statement was released by the rating agency) LONDON, October 20 (Fitch) Fitch Ratings has affirmed Kazakhstan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB' with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Kazakhstan's IDRs balance strong public and external balance sheets, underpinned by large government savings and a substantial sovereign net foreign asset position, against high commodity d

Fitch Affirms Lesotho at 'B+'; Outlook Stable

(The following statement was released by the rating agency) LONDON, October 20 (Fitch) Fitch Ratings has affirmed Lesotho's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Lesotho's 'B+' ratings reflect a high stock of government deposits at 16% of GDP in FY16/17 (fiscal year ending March 2017) balanced by weak GDP per capita and human development indicators and

Fitch Upgrades Cyprus to 'BB'; Outlook Positive

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Cyprus - Rating Action Report https://www.fitchratings.com/site/re/905307 LONDON, October 20 (Fitch) Fitch Ratings has upgraded Cyprus's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BB' from 'BB-'. The Outlook is Positive. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS The upgrade of Cyprus's IDRs reflects the following key rating drivers and