S&P Downgrades Egypt's Credit Rating to 'B-' Due to Delayed Implementation of Monetary and Structural Reforms
Credit rating agency S&P Global downgraded Egypt’s long-term foreign and local currency sovereign credit rating from ‘B’ to ‘B-’ while changing its economic outlook from ‘negative’ to ‘stable’, according to a press release issued on 20 October. S&P cited “recurring delays to the implementation of monetary and structural reforms” which the agency said exacerbated imbalances
Source: egyptianstreets.com
