Moody’s Lowers Egypt’s Credit Rating to Caa1 Amid Economic Crisis and Debt Burden
Moody’s International Credit Ratings Agency Moody’s credit ratings agency announced that it lowered Egypt’s credit rating from B3 to Caa1, attributing this to the deterioration of the country’s ability to sustain debt. Egypt is facing an economic crisis amid record inflation and a severe shortage of foreign currency, and high borrowing over the past eight … Read more