# Egypt Credit Rating Upgrade

> Moody's raises Egypt's sovereign credit rating to B3 as debt falls and reserves rise.
- Title: Egypt Credit Rating Upgrade · Allafrica | Shortify
- Summary: Moody's raises Egypt's sovereign credit rating to B3 as debt falls and reserves rise. Moody's upgraded Egypt's sovereign credit rating to B3 from Caa1 due to…
- Keywords: moody's, egypt, sovereign credit rating, debt, foreign exchange reserves, caa1, primary budget surplus, public debt, tax revenue, news, world, Credit
- Source: Allafrica — https://allafrica.com/stories/202610220016.html
- Published: 2026-10-22T05:01:04+00:00
- Read time: 1 min
- Topics: moody's, egypt, sovereign credit rating, debt, foreign exchange reserves, b3, caa1, primary budget surplus, public debt, tax revenue, news, world
## Moody's Upgrades Egypt's Rating
Moody's upgraded Egypt's sovereign credit rating by one notch to B3 from Caa1.
## Improved Government Finances
Egypt recorded a primary budget surplus of 4.9% of GDP in fiscal year ended June 2026.
## Public Debt Declines
Public debt fell to 81.8% of GDP in June 2026 from 95.2% in 2023.
## Tax Revenue Increases
Tax revenue rose to 13% of GDP supported by compliance measures and expanded tax base.
## Foreign Exchange Reserves Rise
Net international reserves reached $57 billion in September 2026 compared with $52 billion at end of 2025.
## Monetary Policy Changes
Egypt adopted flexible exchange rate in March 2024 and tightened monetary conditions.
## Debt Servicing Concerns Remain
Interest payments account for 59% of government revenue limiting funds for public services.
## Key takeaway

Moody's upgraded Egypt's sovereign credit rating to B3 from Caa1 due to improved government finances, lower debt, and stronger foreign exchange reserves.