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Fitch revises Egypt's outlook up to stable, citing financial help
January 3, 2014 / 5:20 PM / in 4 years

Fitch revises Egypt's outlook up to stable, citing financial help

Jan 3 (Reuters) - Fitch Ratings on Friday revised its outlook on Egypt’s credit rating to stable from negative, citing financial assistance from Kuwait, Saudi Arabia and UAE.

Fitch also affirmed its B-minus rating on Egypt’s long-term foreign and local currency issuer default ratings.

A crackdown on the Muslim Brotherhood and restrictions on protests have also calmed the political scene, though the country remains deeply polarized and security in North Sinai has worsened, Fitch said.

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