ARAB NEWS | MOODY UPGRADES EGYPT RATING TO B3 , MAINTAINS POSITIVE OUTLOOK

What happened: Moody's Ratings upgraded Egypt's sovereign credit rating to B3 from Caa1 on Oct. 16, citing improved public finances, stronger revenue collection and economic reforms, and maintained a positive outlook. Key numbers: Primary budget surplus rose to 4.9 percent of GDP in fiscal 2026 from 3.5 percent in fiscal 2025. Why it matters: Moody's expects Egypt to keep consolidating after its IMF program ends in December 2026, with debt seen just below 70 percent of GDP by the end of the decade. The move follows similar decisions by S&P and Fitch.

Moody's Ratings upgraded Egypt's sovereign credit rating to B3 from Caa1 on Oct. 16, citing improved public finances, stronger revenue collection and economic reforms, and maintained a positive outlook.

Moody's expects Egypt to keep consolidating after its IMF program ends in December 2026, with debt seen just below 70 percent of GDP by the end of the decade. The move follows similar decisions by S&P and Fitch.