S&P affirms Egypt

Standard & Poor's said it affirmed its B-/B long- and short-term foreign and local currency sovereign credit ratings on Egypt.

The outlook is stable.

S&P said the affirmation reflects its view that Egypt's political landscape has begun to stabilize following a fairly smooth electoral process and a subsequent improvement in the security situation, alongside the implementation of a series of economic reform measures.

In addition, given Egypt's important geopolitical status, the agency expects that official donors will continue to provide the Egyptian government with sufficient foreign funds (and oil supplies) to manage the country's short-term fiscal and external financing needs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.