Cairo - Mubasher: Fitch Ratings has assigned Egypt's new senior unsecured bonds issued under the sovereign's Global Medium Term Note programme 'B' ratings, according to a recent report.
The issues are as follows, $1.75 billion (6.125%) bonds maturing 31 January 2022, $1 billion (7.5%) bonds maturing 31 January 2027, and $1.25 billion (8.5%) bonds maturing 31 January 2047.
According to Fitch, the ratings are in line with Egypt's existing senior unsecured ratings and its Long Term Foreign Currency Issuer Default Rating (IDR) of 'B', which has a Stable Outlook, indicated the report.
The IDR rating was last affirmed by Fitch on 15 December 2016, the report added.
