November 10, 2017 / 10:13 PM / a year ago

BRIEF-S&P maintains Egypt's sovereign credit rating at B, raises outlook to positive from stable

Nov 10 (Reuters) -

* S&P maintains Egypt’s sovereign credit rating at B-; raises outlook to positive from stable

* S&P says Egypt outlook revised to positive on rising reserves and strengthening economic growth; ‘B-/B’ ratings affirmed

* S&P says positive outlook reflects potential upgrade over next year if Egypt continues to implement reforms to support investment, growth

* ‍S&P, on Egypt, says foreign exchange reserves continue to rise, while economic growth is strengthening​

* S&P says long-term rating on Egypt remains at ‘B-‘, reflecting wide fiscal and external deficits, high public debt, and low income levels

* ‍S&P says expect political stability in Egypt to continue under president SISI; do not foresee significant policy changes in run-up to elections in early 2018 ​ Source text: (:

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