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Credit Ratings
22 October 2018

​​In August 2018, Moody's Investors Service has upgraded Egypt's credit outlook rating from “STABLE" to “POSITIVE" for the first time since 2015, praising the government's IMF-spurred economic reform. While earlier in May 2018, Standard & Poor's (S&P) global rankings lifted Egypt's sovereign credit rating from B- to B, improving Egypt's rankings from B- in less than a year and Moody's updating Egypt's credit rating to B3 in August 2018. Citing both agencies that economic reform and political stability are the reasons behind Egypt's improved investment climate.

Moreover, Fitch Ratings on the 6th of August in 2018 reaffirmed Egypt's long-term foreign-currency issuer default rating at 'B' and maintained its outlook as positive after affirming earlier on the 16th of January in 2018 that Egypt's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) is revised to be positive from being Stable Outlook.

This Positive Outlook reflects the improving trends across a number of Egypt's credit metrics in response to the reform program Egypt's ratings are supported by progress in implementing an economic and fiscal reform program, greater macroeconomic stability and improving external finances.




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