25 Aug 2012
(MENAFN) Egypt is no longer on Standard & Poor’s watch list, and was affirmed ‘B/B’ rating on its long and short-term foreign and local currency sovereign, although with negative outlook, Reuters reported.
S&P based its decision on the emergence of working relationship between Egypt’s dominant political group and the military.
“B” is a speculative grade rating which indicates that the rated entity is more vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.
S&P said the new relationship between the party and the military could pave the way for an improvement in medium-term policymaking, therefore Egypt’s weak public sector finances and external position could stabilize.
The negative outlook was given to the country’s outlook as there is a one-in-three likelihood of a downgrade is political or social tensions escalate once more, the ratings agency added.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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