Egypt: Moody’s Upgrades Egypt Credit Rating As Debt Falls, Reserves Rise

Moody’s Ratings has upgraded Egypt’s sovereign credit rating by 1 notch to B3 from Caa1, citing improvements in government finances, lower debt and stronger foreign exchange reserves. The agency maintained a positive outlook on the country’s local and foreign currency ratings, according to a statement issued on October 16, 2026. The decision reflects progress in Egypt’s economic reform programme, although borrowing costs and debt repayments remain a concern.

Egypt recorded a primary budget surplus…