On 17 April 2019, Moody’s Investors Service upgraded Egypt’s credit rating from B3 to B2 with Stable Outlook,

a little than a month after a similar action by Fitch. Again, the upgrade cited commitment to reform and better growth outlook.

On the other hand, Moody’s highlighted still-weak fiscal balances and a high interest bill as the main negative points.

Below, we highlight our main observations on Moody’s comment on their rating action.

For more details, please read the full report below.