Egypt’s President Sisi Egypt has promised the IMF it will apply the most far-reaching reforms in the modern era as part of the deal underpinning the fund’s plan announced last week to lend Cairo the equivalent of $12bn. On 11…
Month: August 2016
Bahrain issuer rating cut to BB+
Fitch Ratings has downgraded Bahrain’s long-term foreign currency issuer default rating (IDR) to BB+ from BBB- and long-term local currency IDR to BB+ from BBB. The outlooks are stable. The issue ratings on Bahrain’s senior unsecured foreign and local currency…
Egypt heads for IMF deal in September
A major IMF deal for Egypt involving a credit of up to $12bn could be finalised by September, Fitch Ratings says in a report released today. “Securing an IMF funding deal would be credit positive for Egypt, but implementation…