Suez Canal Project raises the credit rating of Egypt
Monday, 09 14 2015, Category: Economy, Country: Egypt
Dr. Mohamed Youssef, Chairman of Misr Insurance Holding confirmed that the Suez Canal project stimulates the national economy and will improve the credit rating of Egypt as a result of the expected cash flows generated by the project.
Dr. Youssef in an interview with “Al Ahram” said that the international credit rating agencies whether “Moody’s”, “Standard & Poor’s”, and “Fitch” said in their reports before the inauguration of the Suez Canal that the future outlook of the Egyptian economy is stable. Therefore, he expects the Egyptian economy to obtain a high rating.
He clarified that the participation of insurance companies including the Misr Insurance Holding and its subsidiaries in the Suez Canal starts after the implementing of projects whether through investments in these companies or the insurance coverage provided.
Source: Al Ahram