Fitch Revises Egypt’s Outlook to Positive

Special Report

Published: 18 January 2018

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Summary

On January 16th 2018, Fitch Ratings, the international credit rating agency, upgraded the Outlook on Egypt’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘Positive’ from ‘Stable’ and affirmed the IDR at ‘B’. This came a couple of month after Standard and Poor’s (S&P) also upgraded Egypt’s Outlook to positive; while maintaining Egypt’s sovereign credit rating at ‘B-‘. In this brief alert, we include the main drivers that led to such upgrade; in addition to the upward and downward risks associated with the Outlook. We also present Fitch’s forecasts for Egypt’s main macroeconomic indicators; compared to Dcode EFC’s forecasts.


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