Moody’s Upgrades Egypt Sovereign Rating to B3 From Caa1
Moody’s raised Egypt’s long-term sovereign credit rating by one notch on Friday, citing fiscal consolidation and structural reforms. The report also cites a flexible exchange rate and tighter monetary policy.
Moody's raised Egypt's long-term sovereign credit rating by one notch, to "B3" from "Caa1," on Friday. The agency cited strong fiscal consolidation and structural reforms. It said the move to a flexible exchange rate and tighter monetary policy had strengthened external buffers and the economy's ability to absorb…