EUROPE/AFRICA

摘要

Egypt has had its ratings upgraded by Moody's on Tuesday in a move that will help bolster investor confidence ahead of a new deal that is expected in the coming weeks. Moody's upgraded Egypt to B3 with a stable outlook from Caa1. The issuer is rated B- by Standard & Poor's and B by Fitch, both with stable outlooks. Moody's cited Egypt's improving macroeconomic performance, reduction in external vulnerabilities and commitment to fiscal and economic reform as the main reasons behind the upgrade.