S&P maintains Egypt's 'BB' credit rating, stable outlook

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Sat, 18 Apr 2020 - 09:56 GMT

 A view shows the Standard & Poor's building in New York's financial district February 5, 2013. REUTERS/Brendan McDermid

A view shows the Standard & Poor's building in New York's financial district February 5, 2013. REUTERS/Brendan McDermid

WASHINGTON, April 18 (MENA) - Standard & Poor's (S&P) Global Ratings on Friday maintained Egypt's"BB" long- and short-term foreign, and local currency sovereign credit ratings.

In a fresh report, S&P affirmed Egypt's outlook at "stable" despite the global repercussions of the novel coronavirus, citing sufficient liquidity enjoyed by the national economy, which enables it to cope with challenges and shocks.

It also highlighted the Egyptian economy's ability to absorb temporary and external economic shocks.

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