Egypt Gets S&P Upgrade in Latest Sign of Economic Turnaround
Street shops and residential buildings in the Al-Darb Al-Ahmar neighborhood in Cairo.
Photographer: Islam Safwat/BloombergS&P Ratings lifted Egypt’s credit rating, citing policy changes that have improved the economic outlook, giving a further boost for authorities after securing a $57 billion global bailout.
The agency raised the North African country’s long-term foreign currency debt rating up by a notch to B, according to a statement on Friday. The outlook is stable.