Faye was signed by Keeganâ€™s predecessor Sam Allardyce from Bolton, but has been recently linked with a switch to Ewood Park.
However, with Mark Hughes taking up the reigns at Eastlands, it could spell an end to Roversâ€™ interest in the Senegalese international.
Keegan has praised the defender, and hailed him as a calming influence on Steven Taylor at the heart of the Magpies' back line.
He said: "I think the link-up has been very, very good. And I think Faye's been a calming influence on Steven (Taylor).
"In fact, if you look back to the Sunderland game there was a danger that, because Steven was a local, he would get caught up in the excitement of it too much.
"But credit to him, I though he gave a very mature display, and I think Faye played his part in that."