#Moody’s
Credit rating agency Fitch announced its decision to downgrade Egypt's long-term foreign-currency issuer default rating (IDR) from 'B' to 'B-', citing a growing concern over heightened financial risks and an increase in government debt, in a report on 3 November. An IDR is akin to a report card for a country's ability to pay back money borrowed from other countries or organizations. It indicates how capable or incapable the country is at managing finances and repaying debts. “The downgrade reflects…
