Fitch Ratings

Finance min.: Egypt only country in Middle East, Africa to retain global assessment institutions’ ratings

Fri, 22 Apr 2022 - 01:34 GMT

Egypt’s Minister of Finance Mohamed Maait said Egypt has been the only country in the Middle East and Africa to retain the confidence of the three international assessment institutions of Fitch Ratings, S&P Global Ratings, and Moody’s.

Fitch expects continued growth of energy sector in Egypt during next decade: IDSC

Sun, 07 Nov 2021 - 12:07 GMT

IDSC stated, in a statement, Sunday that Egypt is likely to depend mainly on thermal energy in the current period until 2030, and the energy generated from natural gas will constitute the majority of thermal energy generated during the current time.

Fitch Affirms NBE's rating at 'B+'; with stable outlook

Tue, 03 Aug 2021 - 03:04 GMT

Fitch has also affirmed National Bank of Egypt (UK) Ltd's (NBEUK) Long-Term IDR at 'B+' with Stable Outlook and Support Rating at '4'. NBEUK is a wholly owned subsidiary of NBE. A full list of rating actions is below.

Fitch revises CIB's outlook to stable; affirms IDR at 'B+'

Tue, 03 Aug 2021 - 02:48 GMT

Fitch saw that pressures on the domestic operating environment have eased since end-3Q20, moderating downside risks to Egyptian banks' credit profiles. This reflects improving foreign-currency (FC) liquidity, with the banking sector's net foreign assets (NFAs) reaching $3.5 billion at end-April 2021.

Fitch revises outlook on Turkey to negative

Sat, 22 Aug 2020 - 09:00 GMT

A depletion of foreign exchange reserves, weak monetary policy credibility, negative real interest rates, and a sizable current account deficit, have exacerbated external financing risks.

Egypt’s renewed engagement with IMF to boost investor confidence: Fitch

Sun, 17 May 2020 - 09:46 GMT

IMF financing will provide some support for Egypt's foreign reserves and portfolio flows may be stabilizing.

Fitch upgrades Egypt’s IDR to B+ with stable outlook

Thu, 21 Mar 2019 - 02:36 GMT

“Egypt has made further progress in implementing economic and fiscal reforms, which are driving improved macroeconomic stability, fiscal consolidation and stronger external finances.”

Fitch Revises Egypt's Outlook to Positive; affirms at 'B'

Tue, 16 Jan 2018 - 02:59 GMT

Fitch forecasted general government debt/GDP to fall to 93 percent in FY18 from a peak of 103 percent in FY17, marking an inflection point in the strong upward trend since the 2011 revolution.

Michigan likely hurt by potential NAFTA changes -Fitch

Thu, 31 Aug 2017 - 04:10 GMT

Michigan is likely to be the state most hurt by changes to the NAFTA trade agreement, according to a Fitch Ratings report, as Trump renewed threats to scrap the deal.

Fitch: Travel & tourism buoys leisure sector as consolidation continues

Mon, 07 Aug 2017 - 09:57 GMT

Travel and tourism continues to be a bright spot within the leisure sector, according to Fitch Ratings.

AIIB gets top rating by Fitch

Fri, 14 Jul 2017 - 05:00 GMT

The bank enjoys "an excellent level of liquidity" and should benefit from easy access to capital markets, Fitch said.

Subsidies reduction supports Egypt’s credit profile: Fitch

Wed, 12 Jul 2017 - 01:24 GMT

Fitch expected the budget deficit to stand at 9.3 percent of GDP, higher than the 9.1 percent projected by the government.

BREAKING: Egypt new fuel prices show fiscal commitment: Fitch

Wed, 12 Jul 2017 - 12:13 GMT

Egypt's new fiscal reforms represented a continued commitment to fiscal consolidation and economic reform, Fitch Ratings said in a Wednesday statement.

Banks’ liquidity to improve after limits removal: Fitch

Mon, 03 Jul 2017 - 12:46 GMT

Egypt’s removal of limits on foreign currency transfer will attract foreign investments as banking liquidity will improve, international rating agency Fitch Ratings said Monday.

Fitch keeps Egypt’s rating at B with stable outlook

Thu, 22 Jun 2017 - 02:05 GMT

International rating agency Fitch Ratings affirmed Egypt’s long-term foreign and local currency default rating (IDRs) at “B” with stable outlook

Egyptian banks at risk after currency flotation: Fitch Ratings

Wed, 05 Apr 2017 - 07:00 GMT

Fitch Ratings warned Tuesday that some Egyptian banks are still at risk and facing difficulties to meet minimum regulatory capital requirements due to the Egyptian currency’s weakness, following its flotation in November, and high exposure to foreign-curr

Fitch Ratings says Egypt progressing in external re balancing

Thu, 02 Mar 2017 - 12:05 GMT

Egypt's recent increase in foreign exchange reserves, will further progress in its gradual external rebalancing in early 2017, reported Fitch Ratings.

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