Fitch affirms NBE credit rating at B+ with a stable outlook

Fitch Ratings has affirmed the long-term issuer default Rating for the National Bank of Egypt at 'B+' with a stable outlook, it said on Wednesday. The ratings agency also removed it from its rating watch negative list, reflecting its view of diminishing near-term risks to its credit profile, especially its foreign currency funding and liquidity, from the economic fallout from the covid-19 pandemic.