Moody’s downgrades Egypt’s rating to Caa1 with stable outlook

Moody’s downgrades Egypt’s rating to Caa1 with stable outlook

The Moody’s credit ratings agency on Thursday lowered Egypt’s rating from B3 to Caa1, with a stable outlook. Moody’s attributed the downgrade to the deterioration of the country’s ability to bear debt and the ongoing shortage of foreign currencies. And the stable outlook is due to Egypt’s continued access to financial support from the International …

The post Moody’s downgrades Egypt’s rating to Caa1 with stable outlook appeared first on Egypt Independent.