Planning and Economic Development Minister Hala el Saed said on Saturday that the decision of Standard and Poor’s (S&P) to keep Egypt’s credit rating at B level proves the resilience of Egypt’s economy and its ability to overcome the COVID-19 crisis and restore its high growth rates.
Keeping Egypt’s credit rating at B level is of great importance in light of the economic and financial problems the world is suffering from due to the outbreak of the coronavirus pandemic, as well as structural changes in supply and production chains, Saed said in a press release.
She pointed out that credit ratings are an important tool that investors use when making decisions to buy bonds and other fixed-income investments.
Source: State Information Service Egypt