Moody’s Maintains Egypt’s Credit Rating at B2 with a Stable Outlook

In a report published on the 2nd of September 2020, Moody’s Investors Service (Moody’s) has maintained Egypt’s credit rating at B2, with a Stable Outlook. Moody’s noted that it has maintained this rating and outlook for Egypt since April 2020.

According to Moody’s, Egypt’s credit profile is backed by its sizeable and diversified economy, a large domestic funding base, as well as sufficient projected foreign exchange reserves to meet external liabilities maturing over the next three years. Added to this, Egypt also has relatively low levels of external government obligations and foreign-currency denominated debt, which further supports the country’s favorable credit profile. Furt...