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S&P Upgrade and IMF Forecast: Renewed Confidence in Egypt’s Economy

Egypt’s investment landscape witnessed a crucial update in October 2025 when Standard & Poor’s (S&P) upgraded the country’s long-term credit rating to ‘B’ from 'B-'. This marks the first upgrade from the agency in years and serves as a crucial external validation of the country’s necessary economic adjustments.

Updated 10/16/2025 2:17:00 AM
S&P upgrades Egypt’s credit rating to ‘B’; Fitch affirms with stable outlook

S&P Global Ratings has upgraded Egypt’s long-term sovereign credit rating to ‘B’ from 'B-', while Fitch Ratings affirmed its ‘B’ rating; both with a ‘stable’ outlook.

Updated 10/12/2025 4:46:00 AM
CBE likely to slash deposit rates by 200 bps in Q4 2025: Fitch

BMI, a Fitch Solutions Company, expects the Central Bank of Egypt (CBE) to cut its deposit rates by 200 basis points (bps) in the fourth quarter (Q4) of 2025.

Updated 9/18/2025 8:59:00 AM
CBE's expected rate cuts unlikely to dent Egyptian bank's NIMs: Fitch Ratings

Egyptian banks’ net interest margins (NIMs) are expected to withstand the impact of major interest rate cuts likely to be introduced by the Central Bank of Egypt (CBE) this year.

Updated 2/20/2025 9:22:00 AM
Fitch Ratings upgrades 4 Egyptian banks’ IDRs following sovereign rating boost

Fitch Ratings has upgraded the long-term issuer default ratings (IDRs) of four major Egyptian banks to 'B’ from ‘B-,' with a stable outlook.

Updated 11/19/2024 4:18:00 PM
Egypt’s Maintains Stable Credit Rating

Updated 11/12/2024 1:14:00 PM
Fitch upgrades Egypt's rating to 'B' on improved economic stability, policy reforms

Fitch Ratings has upgraded Egypt's long-term foreign-currency issuer default rating (IDR) to 'B' from 'B-', with a stable outlook, citing significant improvements in the country's external finances, fiscal policies, and economic resilience.

Updated 11/2/2024 10:23:00 AM
Fitch Ratings upgrades outlook of 4 Egyptian banks to positive

Fitch Ratings has upgraded the outlook of four Egyptian banks’ long-term issuer default ratings (IDRs), namely the National Bank of Egypt (NBE), Banque Misr, Banque Du Caire, and Commercial International Bank (CIB), from stable to positive, affirming IDRs at B-.

Updated 5/19/2024 7:21:00 AM
Fitch revises Egypt’s outlook to positive

Fitch Ratings has revised Egypt’s outlook to positive from stable, affirming the country’s long-term foreign-currency issuer default rating (IDR) at ‘B-’.

Updated 5/4/2024 10:06:00 AM
Ras El-Hekma deal to alleviate Egypt’s external liquidity woes: Fitch Ratings

Fitch Ratings announced that Egypt’s $35 billion deal with Abu Dhabi Developmental Holding (ADQ) will ease its external liquidity pressures and facilitate an adjustment of its exchange rate.

Updated 3/3/2024 8:19:00 AM
Fitch Solutions expects Egypt’s GDP to hit 4.2% in FY2023/24

Fitch Solutions expects an uptick in Egypt’s real gross domestic report (GDP) to reach 4.2% during the current financial year (FY) 2023/2024, compared to 3.8% in the elapsed FY 2022/2023.

Updated 11/20/2023 10:38:00 AM
Fitch Ratings downgrades credit ratings of 3 Egyptian banks to ‘B-’

Fitch Ratings has downgraded the long-term issuer default ratings (IDRs) of three Egyptian banks, namely the National Bank of Egypt (NBE), Banque Misr, and Banque Du Caire, to ‘B-’ from ‘B’, with stable outlooks.

Updated 11/14/2023 7:19:00 AM
Fitch Ratings downgrades Egypt’s credit rating to B-; outlook stable

Fitch Ratings has downgraded Egypt’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-’ from ‘B’, with a stable outlook.

Updated 11/4/2023 10:08:00 AM
Fitch Ratings downgrades credit ratings of 4 Egyptian banks to ‘B’

Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of four Egyptian banks, namely the National Bank of Egypt (NBE), Banque Misr, Banque Du Caire, and CIB, to ‘B’ from ‘B+’, with their outlooks remaining negative.

Updated 5/18/2023 9:23:00 AM
Fitch downgrades Egypt's credit rating to B; Outlook remains negative

Fitch Ratings has downgraded Egypt’s long-term foreign-currency issuer default rating (IDR) to 'B' from 'B+', with a negative outlook.

Updated 5/7/2023 7:03:00 AM
Export dependence likely to push forward growth of Egypt’s petrochemicals sector: Fitch Ratings

The report also showed that Egypt’s exports of petrochemicals, chemicals, and fertilizers grew 45% year on year in 2021 to hit $6.7 billion, surpassing the Chemical and Fertilizers Export Council’s forecast of $5.8 billion. This growth in exports was driven by an uptick in the production of natural gas, in addition to higher prices, the report added.

Updated 5/3/2023 11:25:00 AM