Egypt’s credit outlook was raised from stable to positive by Moody’s, which cited progress in implementing a program backed by the IMF to bolster economic growth and repair public finances. The country’s long-term rating was kept at B3, six levels below investment grade. Moody's says the positive outlook signals that a downgrade is currently very “unlikely." Abdul Kadir Hussain, the head of fixed income at Arqaam Capital, weighs in. (Source: Bloomberg)