Fitch rates Egypt ‘B’ Rating for US$1.5 billion 2025 Bond

Fitch Ratings has assigned Egypt’s US$1.5 billion global bond maturing 11 June 2025 a ‘B’ rating. The bonds have a coupon rate of 5.875%, the rating agency announced Thursday.

The proceeds will be used for the general budgetary purposes of the government.

KEY RATING DRIVERS
“The rating is in line with Egypt’s Long-term foreign currency Issuer Default Rating (IDR) of ‘B’ with a Stable Outlook.” Fitch added.
RATING SENSITIVITIES
“The rating would be sensitive to changes in Egypt’s Long-term foreign currency IDR. On 19 December 2014 Fitch upgraded Egypt’s Long-term foreign currency IDR to ‘B’ from ‘B-‘.”