Stock Market News
Fitch downgrades Egypt to ‘B-‘ with stable outlook
2023.11.03 17:37
© Reuters. A general view of buildings by the Nile River in Cairo, Egypt January 30, 2021. REUTERS/Mohamed Abd El Ghany/ File photo
(Reuters) – Ratings agency Fitch downgraded Egypt’s long-term foreign-currency issuer default rating (IDR) to ‘B-‘ from ‘B’, citing increased risks to external financing.
The agency also revised its outlook to ‘stable’ from ‘negative’.
