Credit rating agency Standard & Poor’s upgraded Egypt’s sovereign rating by one notch to “B” from “B-”, citing ongoing reforms that have driven a sharp rebound in GDP growth. Similarly, Fitch Ratings reaffirmed Egypt’s credit rating, reflecting the country’s relatively strong growth potential and robust support from its international partners.
The last time Fitch upgraded Egypt’s rating to “B” was in November 2024, when foreign investments and tighter monetary policies helped strengthen financial resources. The new upgrade by Standard & Poor’s marks the first since Egypt began receiving financial support in March 2024.
