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Moody's website (AFP Photo)

Moody’s raises Egypt’s credit rating to B3

Moody’s Corporation estimated a decrease in Egypt’s budget deficit to 10% of GDP this year, and a decrease in public debt to less than 90% of GDP. Moody’s raised Egypt’s credit rating after assessing the country’s economy Tuesday. In a press release, Moody’s said the level of Egypt’s credit rating rose by one notch after …

Shaimaa Al-Aees

Moody’s AFP

Upgrading Egypt’s economic outlook stimulus for investments, growth rate

Since the 25 January Revolution, Egypt’s economic outlook was downgraded several times by international credit rating agencies. The downgrades came about due to violence and political instability, which took a massive toll on investments and foreign reserves. In the wake of calls for protests on 30 June, Egypt’s economy saw a credit ratings cut on 21 …

Hend El-Behary

Banglalink digital issues $300m bond

Reuters – Egypt’s Global Telecom Holding said on Monday its Bangladeshi subsidiary Banglalink Digital Communications Limited issued Bangladesh’s first international bond. Banglalink, wholly owned by Global Telecom, has priced a five-year $300m bond with the coupon at 8.625%, Global Telecom said in a statement. The transaction is expected to close on 6 May. “The notes …

Daily News Egypt

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