Egypt’s Distressed Bonds Fall on Threat of Moody’s Downgrade

Moody’s says review of rating partly reflects liquidity risk
Egypt’s dollar bonds due 2051 and 2061 fall to record lows

Images of Egyptian and foreign currency banknotes in the window of a currency exchange bureau in Cairo, Egypt. — Images of Egyptian and foreign currency banknotes in the window of a currency exchange bureau in Cairo, Egypt.
Photographer: Islam Safwat/Bloomberg

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By Netty Idayu Ismail

May 10, 2023 at 6:27 AM EDT

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Egypt’s dollar bonds sank deeper into distress after Moody’s Investors Service placed the North African nation’s ratings on review for downgrade.

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Before it’s here, it’s on the Bloomberg Terminal