Moody’s raises Egypt’s local and foreign currency ratings to B3 and kept a positive outlook
Good morning, nice people. Before getting into the news of the day, we have an announcement of our own. After…
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Good morning, nice people. Before getting into the news of the day, we have an announcement of our own. After…
The terms of the transaction were not disclosed
The agency sees potential for improvement as inflation eases and fiscal consolidation progresses
The US is no longer AAA-rated by any of the Big Three agencies for the first time in history
The agency sees subsidy reforms and tax reforms helping the government reach a primarily surplus of 3.5% of GDP this…
Recent developments were already “baked” into Egypt’s current rating and outlook
Moody’s cited the FX liquidity from the Ras El Hekma agreement in addition to recent reforms
Moody’s expects the FX liquidity from the Ras El Hekma agreement to close the external funding gap until FY 2025-2026
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