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.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more