S&P Revises Egypt’s Credit Outlook to ‘Stable’ ...Egypt

Standard & Poor’s (S&P), a major global credit rating agency, has changed Egypt’s credit outlook from negative to stable and affirmed its long-term and short-term foreign and local currency sovereign credit ratings for Egypt at B-/B. The revision recognizes Egypt’s progress on economic reforms amid persistent challenges from global financial volatility. S&P acknowledged Egypt’s persistent challenges, such as high inflation, a substantial debt burden, and heavy dependence on external financing. However, the agency highlighted that recent steps, including a managed currency devaluation, tighter monetary policy, and acceleration of the privatization program, have contributed to improved investor sentiment and a more stable macroeconomic environment. The stable outlook suggests that S&P expects Egypt to maintain sufficient access to external financing and to continue implementing structural reforms, especially under the framework of its IMF program. Any delays in reforms, renewed foreign exchange pressures, or deterioration in external liquidity could prompt negative rating actions in the future, the agency warned. As one of the leading global credit rating agencies, S&P plays a crucial role in evaluating a country’s financial stability. Its ratings are closely watched by investors and financial institutions, shaping borrowing costs and…

This content is for members only. Visit the site and log in/register to read.

S&P Revises Egypt’s Credit Outlook to ‘Stable’ first appeared on Egyptian Streets.

Read More Details
Finally We wish PressBee provided you with enough information of ( S&P Revises Egypt’s Credit Outlook to ‘Stable’ )

Also on site :

• Palestinian activist Khalil denied release for son’s birth, wife says
• Pope Francis’s will in full: Pontiff’s final wishes and place of burial
• Education Ministry rehabilitates 70 schools since Assad regime’s fall