Rating Actions in Foreign Currency on May 26, 2022 Moody's: | Cbonds Global

Rating Actions in Foreign Currency on May 26, 2022

Moody's:

affirmed Egypt at 'B2' changed outlook to negative from stable.

Reasons: "The negative outlook reflects the rising downside risks to the sovereign's external shock absorption capacity in light of a significant narrowing in the foreign exchange reserve buffer to meet upcoming external debt service payments." Moody's press release.

affirmed Kuwait at 'A1' with the stable outlook.

S&P Global Ratings upgraded Vietnam to 'BB+' from 'BB' with the stable outlook.

Reasons: "We raised our sovereign ratings on Vietnam to reflect our view of improvements in the government's administrative processes. In recent years, the government had implemented measures that helped to close the gap on lapses in repaying guaranteed debt."S&P's press release.