MOODY RAISES EGYPT CREDIT RATING , GIVES POSITIVE OUTLOOK

What happened: Moody's raised Egypt's long-term debt rating by one notch from Caa1 to B3 and assigned a positive outlook, citing fiscal reforms tied to its $8 billion IMF funding package. Key numbers: Rating moved from Caa1 to B3. IMF package is $8 billion. Inflation expected to exceed 13 percent this year, after over 33 percent in 2025. Why it matters: The positive outlook means a further upgrade could be considered in coming months. Moody's said reforms have placed government debt and interest burdens on a declining path, albeit from elevated levels.

Moody's raised Egypt's long-term debt rating by one notch from Caa1 to B3 and assigned a positive outlook, citing fiscal reforms tied to its $8 billion IMF funding package.

The positive outlook means a further upgrade could be considered in coming months. Moody's said reforms have placed government debt and interest burdens on a declining path, albeit from elevated levels.