Moody’s: Egypt’s Currency Issuer B2 Rating Affirmed With a Stable Outlook

Moody’s Investors Service (Moody’s) has affirmed the Government of Egypt’s long-term foreign and local currency issuer ratings at B2, with the Outlook remaining Stable. In addition, Moody’s also affirmed the country’s foreign currency senior unsecured ratings at B2, and foreign currency senior unsecured medium-term note rating at (P) B2.

According to Moody’s, the affirmation of the B2 rating and stable outlook reflect Egypt’s strong credit profile, which will help it cope with COVID-19. Although the pandemic will expose Egypt’s credit vulnerabilities, improvements in governance and policy effectiveness will help boost the country’s credit profile resilience to the cur...