S&P affirms Egypt’s ‘B/B’ ratings as policy response cushions regional shocks
- S&P Global Ratings affirmed Egypt’s long- and short-term sovereign credit ratings at 'B/B' with a stable outlook.
- Foreign portfolio outflows reached $9.5 billion after the escalation of regional conflict, with the Egyptian pound depreciating by up to 15% against the US dollar.
- Egypt’s international reserve assets hit a record $54.5 billion in September, bolstered by strong remittance inflows, tourism revenue, and Suez Canal income.
