S&P Global Ratings has upgraded Egypt’s long-term foreign currency credit rating to B from its previous level, reflecting improved economic prospects driven by recent policy reforms. The move highlights growing confidence in the country’s financial trajectory following a comprehensive restructuring effort. The rating agency noted that adjustments in monetary and fiscal policies have contributed to stabilizing the economy, reinforcing resilience amid external pressures. This upgrade comes after Egypt secured a $57 billion international support package aimed at restoring macroeconomic stability. With a stable outlook assigned by S&P, investor sentiment may strengthen as the government continues implementing structural changes. The recognition serves as another indicator of progress in the nation’s broader economic recovery plan.
— news from Bloomberg.com
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Egypt Gets S&P Upgrade in Latest Sign of Economic Turnaround
S&P Ratings lifted Egypt’s credit rating, citing policy changes that have improved the economic outlook, giving a further boost for authorities after securing a $57 billion global bailout. n nThe agency raised the North African country’s long-term foreign currency debt rating up by a notch to B, according to a statement on Friday. The outlook is stable.