Egypt – Sovereign Ratings and Stable Outlook Affirmed

6 February 2026

Rating Action

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Egypt’s Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) at ‘B’. At the same time, CI Ratings has affirmed the sovereign’s Short-Term (ST) FCR and ST LCR at ‘B’. The Outlook on the ratings remains Stable.

Rating Rationale

The ratings take into account the gradual improvement in international liquidity – albeit to levels that are still moderate – supported by the availability of reform-linked external financing from the IMF, the World Bank and Gulf partners. The ratings also take into consideration the authorities’ demonstrated commitment to macroeconomic stabilisation and fiscal reforms. Together, these factors have helped to restore a degree of investor confidence, maintain a flexible exchange rate regime (since March 2024), and reduce short-term external financing risks. The ratings continue to be…