Fitch upgraded Egypt's credit rating outlook to positive due to reduced external financing risks and stronger FDI.
Fitch Ratings upgraded Egypt's credit rating outlook to positive from stable, citing reduced external financing risks and stronger foreign direct investment. The positive revision follows the International Monetary Fund's approval of an expanded $8 billion financial support program for Egypt and the UAE's $35 billion investment deal. Fitch maintains Egypt's LTFC IDR at 'B-', attributing the upgrade to economic improvements and political stability.
May 03, 2024
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