Name:Nehal Badawy Ali ali Group:E

Credit rating of Egypt drom 2000 to 2023

Agency Rating Outlook Date Credit rating scale
S&P B- stable Oct 20 2023 Highly speculative
Moody's Caa1 stable Oct 05 2023 Substantial risk
Moody's B3 under review May 09 2023 Highly speculative
S&P B negative Apr 21 2023 Highly speculative
Moody's B3 stable Feb 07 2023 Highly speculative
Moody's B2 negative May 26 2022 Highly speculative
Moody's B2 stable Apr 17 2019 Highly speculative
Moody's B3 positive Aug 28 2018 Highly speculative
S&P B stable May 11 2018 Highly speculative
S&P B- positive Nov 10 2017 Highly speculative
S&P B- stable Nov 11 2016 Highly speculative
S&P B- negative May 13 2016 Highly speculative
S&P B- stable Nov 13 2015 Highly speculative
S&P B- positive May 15 2015 Highly speculative
Moody's B3 stable Apr 07 2015 Highly speculative
Moody's Caa1 stable Oct 20 2014 Substantial risk
S&P B- stable Nov 15 2013 Highly speculative
S&P CCC+ stable May 09 2013 Substantial risk
Moody's Caa1 negative Mar 21 2013 Substantial risk
Moody's B2 negative watch Jan 18 2013 Highly speculative
Moody's B3 negative Jan 12 2013 Highly speculative
S&P B- negative Dec 24 2012 Highly speculative
S&P B negative Aug 23 2012 Highly speculative
S&P B negative watch Jun 25 2012 Highly speculative
S&P B negative Feb 10 2012 Highly speculative
Moody's B2 negative watch Dec 21 2011 Highly speculative
S&P B+ negative Nov 24 2011 Highly speculative
Moody's B1 negative Oct 27 2011 Highly speculative
S&P BB- negative Oct 18 2011 Non-investment grade
speculative
Moody's Ba3 negative Mar 16 2011 Non-investment grade
speculative
S&P BB negative Mar 10 2011 Non-investment grade
speculative
S&P BB negative watch Feb 01 2011 Non-investment grade
speculative
Moody's Ba2 negative Jan 31 2011 Non-investment grade
speculative
Moody's Ba1 stable Aug 19 2009 Non-investment grade
speculative
Moody's Ba1 negative Jun 23 2008 Non-investment grade
speculative
S&P BB+ stable Mar 14 2005 Non-investment grade
speculative
Moody's Ba1 stable Nov 15 2003 Non-investment grade
speculative
S&P BB+ negative Aug 22 2003 Non-investment grade
speculative
S&P BB+ stable May 22 2002 Non-investment grade
speculative
Moody's Ba1 negative Nov 07 2001 Non-investment grade
speculative
S&P BBB- negative Jul 03 2000 Lower medium grade

report provides an analysis of the changes in Egypt’s credit rating:

The credit rating of a country is a reflection of its economic stability and the
perceived risk associated with investing in that country. It is an important
indicator for investors and has a significant impact on a country’s borrowing
costs. In the early 2000s, Egypt had a relatively stable credit rating. In July 2000,
S&P rated Egypt as BBB-1. By November 2001, Moody’s rated Egypt as Ba11
In March 2005, S&P rated Egypt as BB+1. This rating remained unchanged until
August 2008.
However, due to the instability of politics within the country led to downgrade in
its credit rating in 2011, By December 2012, S&P had downgraded Egypt to B-1
In mid2013 to 2015 saw some improvement in Egypt’s credit rating.
The late 2010s to early 2020s saw a period of fluctuation in Egypt’s credit
rating. In November 2016, S&P rated Egypt as B-1. This was upgraded to B
in May 2018. However, by May 2022, Moody’s downgraded Egypt to B2
Egypt’s sovereign credit rating has been downgraded due to worsening
debt affordability. On October 5th, 2023, Moody’s Investors Service cut
Egypt’s sovereign credit rating by a notch to ‘Caa1’ from 'B3
The downgrades in Egypt’s credit rating in 2023 reflect the economic
challenges that the country is currently facing. These include increased
external financing risk, worsening debt affordability, and high uncertainty
on the exchange-rate trajectory.