RIYADH: Moody’s Ratings upgraded Egypt’s sovereign credit rating to B3 from Caa1, citing improved public finances, stronger revenue collection and economic reforms that have helped put government debt and interest burdens on a declining path. The agency maintained a positive outlook, reflecting the potential for further improvement in the country’s debt burden and borrowing costs. The upgrade, announced on Oct. 16, applies to the government’s long-term local- and foreign-currency issuer ratings
