Egypt’s Credit Rating Affirmed at ‘B2’ With a Stable Outlook
April 22, 2020
Email The rating agency, Moody’s has retained Egypt’s ‘B2’ credit rating with a Stable Outlook. This rating has been backed by ‘A3’ economic strength, indicating the strength of Egypt’s financial and banking system with a low risk of default.
Although the rating represents the country's broad and diversified economy with high growth prospects, Moody's rated Egypt with ‘B1’ for institutions and governance strength balances, adding that they are comparatively poor but improving, with vital progress made with regards to fiscal and economic reforms. The ‘B1’ rating indicates a relatively risky issuer, with a higher than average probability of default.
