Moody's raises Egypt's rating, says growth should accelerate if political stability continues

April 7, 2015 5:20 PM

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CAIRO – Moody's Investor Service has upgraded Egypt's credit rating, saying macroeconomic performance has improved and external vulnerabilities have been reduced.

In a statement, it ranked Egypt at B3 on its scale — speculative and subject to high credit risk — with a stable outlook, an improvement from its previous classification of Caa1.

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