Kenya Water Service Provider Creditworthiness Index Report

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作者：

World Bank Group

来源地址：

http://hdl.handle.net/10986/23754

关键词：

TARIFFS;  SOVEREIGN BENCHMARK;  DEFICIT;  CAPITAL MARKETS;  REGULATORY FRAMEWORK;  BORROWER;  CORPORATE DEFAULT;  INTEREST RATE SPREAD;  DEFAULTS;  FINANCIAL MANAGEMENT;  INFORMATION SYSTEM;  DEBTORS;  INTEREST;  DOMESTIC CREDIT RATING;  INTEREST RATE;  OPTION;  LIQUIDITY;  DOMESTIC MARKET;  DEBTOR;  REPAYMENTS;  INFRASTRUCTURE DEVELOPMENT;  TOTAL DEBT;  REVENUES;  FINANCIAL STATEMENTS;  DEFAULT RISK;  LOAN;  CREDITWORTHINESS;  BORROWERS;  TAX;  INCOME TAX;  INCOME STREAMS;  GOVERNMENT SUPPORT;  INFLATION;  INTERNATIONAL BANK;  PENSION;  CASH FLOWS;  INSTRUMENTS;  LENDER;  DEBT PAYMENT;  EMERGING MARKET ECONOMIES;  ENABLING ENVIRONMENT;  BUDGET;  HUMAN RESOURCE;  CREDIT RATINGS;  CURRENCY;  INTEREST EXPENSE;  SECURITIES MARKET;  DEBTS;  FINANCES;  LENDING DECISIONS;  CASH RESERVES;  EMERGING MARKET;  FINANCIAL INSTITUTIONS;  MARKETS;  DEBT;  LONG TERM DEBT;  RETURN;  LENDERS;  ACCOUNTS RECEIVABLE;  LOANS;  RESERVES;  NATIONAL TREASURY;  DEBT SERVICE;  CAPITAL INVESTMENTS;  DUE DILIGENCE;  CREDIT RATING COMPANY;  LEGAL FRAMEWORK;  FINANCE;  MARKET ECONOMIES;  PROFIT MARGIN;  EXPENDITURE;  TRANSACTIONS;  EQUITY;  LOAN REPAYMENT;  INVESTORS;  SOVEREIGN RATINGS;  DEBT PAYMENTS;  GOOD;  GOVERNMENT BUDGET;  COMMERCIAL CREDIT;  GOVERNANCE ISSUES;  CREDIT ASSESSMENT;  TURNOVER;  LIQUIDITY RATIOS;  FUTURE;  DEFAULT RATES;  CORPORATE BORROWERS;  BUDGETS;  REPAYMENT;  FINANCIAL PERFORMANCE;  AMORTIZATION;  ISSUANCE;  LEGAL OWNERSHIP;  CASH MANAGEMENT;  BALANCE SHEET;  MARKET;  DEFAULT;  LOCAL CURRENCY;  CREDIT RATING;  PRINCIPAL REPAYMENTS;  RISK OF DEFAULT;  MUNICIPAL FINANCE;  SECURITIES;  TREASURY;  SOLVENCY;  CREDIT RISK;  INFRASTRUCTURE INVESTMENTS;  GOVERNMENT POLICIES;  INTERESTS;  CREDIT RATING AGENCY;  INVESTOR;  SECURITY;  DEBT INSTRUMENTS;  INVESTMENT;  DOMESTIC CREDIT;  COMMERCIAL BANKS;  HUMAN RESOURCES;  POVERTY;  CREDIT QUALITY;  FINANCIAL INFORMATION;  TARIFF;  DEFAULT RATE;  DEBT SERVICE PAYMENTS;  REVENUE;  MARKET SPECIALIST;  PROFIT;  INVESTMENTS;  LENDING;  DEBT INSTRUMENT;  TRUST FUND;  LIQUIDITY RATIO;  MARKET FINANCE;  INSTRUMENT;  CREDIT STRENGTH;  PUBLIC SPENDING;  LOCAL LENDERS;  LIABILITIES;  DEBT SERVICE PAYMENT;  GUARANTEE;  DEVELOPMENT BANK;  CASH FLOW;  INVESTING;  Report; 

年份：

2015

出版地：

Washington,USA

语种：

English

摘要：

The Kenya water supply and sanitation (WSS) sector has been on a long path of facilitating commercial lending to Water Service Providers (WSPs). A key component of this effort is the evolution of rating the credit risk of WSPs for local lenders. However, the trade-off in credit rating WSPs is to provide the best credit analysis to help lenders assess the creditworthiness of WSPs, yet have a system that is simple and affordable enough to replicate on an annual basis. To solve this trade-off, the Water Services Regulatory Board (WASREB) and the Water and Sanitation Program of the World Bank have created a Creditworthiness Index for the WSPs in Kenya. In lieu of performing a full shadow rating analysis, which is much more thorough yet also more time-consuming and costly, the Creditworthiness Index provides a simplified snapshot of the financial and operational performance of WSPs.