#credit
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…
