#Egypt credit rating
International credit rating agency Standard & Poor’s raised on Friday Egypt’s outlook from ‘stable’ to ‘positive’ and said the country is raising its foreign reserves and strengthening economic growth. S&P said in a statement that the revision reflects a “potential upgrade over next year” on the condition that Egypt continues to implement its IMF-sponsored economic reform program. Egypt’s sovereign credit rating was maintained at B-, “reflecting wide fiscal and external deficits, high public debt, and low income levels,” the statement…
