Egypt – Sovereign Ratings and Stable Outlook Affirmed
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Summary
7 August 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 reflect a material strengthening of Egypt’s external shock absorption capacity, with the current policy framework enabling the economy to withstand the economic impact of very high geopolitical risk. This improvement is supported by consistent implementation of a more flexible exchange rate, satisfactory net foreign asset position of the banking system and increasing gross official reserves, underpinned by the availability of reform-linked external financing from the IMF, the EU, the World Bank and GCC partners.
The ratings also incorporate the authorities’ demonstrated…