Last Update 21:11
Monday, 11 November 2019

Moody’s announces completion of Egypt's periodic review

Doaa A.Moneim , Tuesday 3 Sep 2019
Moody's main headquarter (Reuters)
Views: 1431
Views: 1431

Moody's financial services company has announced that it has completed the periodic review of a group of issuers that includes Egypt and may include related ratings, with no changes in Egypt’s credit rating that is stable at B2, according to a statement issued by Moody’s late on Monday.

“The credit profile of Egypt (issuer rating B2) is supported by high economic strength, reflecting the country's large and diversified economy with robust growth prospects,” according to the statement.

It added that low institutional strength balances are relatively weak, but there have been improving governance indicators with a solid track record of reform implementation over the past three years. On the other hand, low fiscal strength reflects weak public finances with a high, albeit declining, government debt burden and very low debt affordability.

Moody's also said that Egypt is facing political, economic and social troubles which the country has been having difficulty overcoming. Furthermore, the country's banking system also faces risks which can be mitigated by utlising Egypt's potential given the sector's stable funding structure, large liquidity buffers and resilient loan performance.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.