Credit rating paves way for counties to borrow from capital market

L-R Governors Kivutha Kibwana (Makueni), WycliffE Wangamati (Bungoma), Anyang Nyong’o (Kisumu) and Francis Kimemia (Nyandarua) hold their scorecards during the unveiling of county credit ratings at a Nairobi hotel. [George Njunge/Standard]

Counties are set to borrow from the capital markets after three of the devolved units received their creditworthiness reports.

Kisumu, Bungoma and Makueni counties were yesterday given a “stable outlook” in a pilot programme that paves the way for the devolved units to find alternative funding sources.