Credit rating agency Fitch Ratings has assigned a 'B' rating to a $1.5 billion ten-year US dollar bond set to be issued by Egypt this month. It will be the first time Egypt issues an international bond in five years, as the cash-strapped government of Egypt's president Abdel Fattah El-Sisi seeks to revive sources of financing following years of poltical turmoil that have stiffled the country's economy. The yield is expected in the 6.25 percent area, lead managers told Reuters last week. "The rating is in line with Egypt's long-term foreign currency Issuer Default Rating (IDR) of 'B' with a Stable Outlook," said Fitch. http://english.ahram.org.eg/News/132545.aspx
