EGYPT

 

Egypt Gets Ratings Boost

 

Ratings agency Standard and Poor’s (S&P) has given the Egyptian economy a vote of confidence, upping its long-term sovereign credit ratings by one notch to B- (stable outlook). But the key reason is an inflow of Gulf cash, rather than improved fundamentals. And Egypt’s debt remains junk grade. S&P’s on 15 November upgraded Egypt’s long- and short-term foreign and local currency sovereign credit ratings to B-/B...