Moody’s upgrades Egypt’s rating to B3, maintains positive outlook
RIYADH: Moody’s Ratings upgraded Egypt’s sovereign credit rating to B3 from Caa1, citing improved public finances, stronger revenue collection and economic reforms that have helped put government debt and interest burdens on a declining path. The agency maintained a positive outlook, reflecting the potential for further improvement in the country’s debt burden and borrowing costs. The upgrade,…
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