S&P Affirms Egypt’s Credit Rating at B-/B, with ‘Stable’ Outlook

The global rating agency Standard & Poor’s (S&P) has affirmed Egypt’s credit rating at B-/B, with Stable Outlook, according to Reuters.
The agency said in a statement on Friday the improvement in political stability and security situation, as well as the slight recovery of GDP and the financial reforms help boost the country’s economic growth.

The rating still faces restrictions due to the high levels of deficit, government debt, need to borrowing and the continued GDP growth at a low level, S&P noted.