LONDON, Aug 23 (Reuters) - Egypt's request for a $4.8 billion loan from the International Monetary Fund is positive for the country's economy but will not have a short-term impact on its rating, a senior analyst at ratings agency Fitch said on Thursday.
"It's positive that talks have renewed," Richard Fox, head of Middle East and Africa sovereign ratings at Fitch, told Reuters in a telephone interview.
"There is no immediate impact on the rating, we are awaiting developments."
Egypt requested the larger-than-expected loan from the IMF this week. The country hopes for a deal by the end of the year, officials said during a visit to Cairo by IMF chief Christine Lagarde.
Fitch cut Egypt's rating to B-plus with negative outlook in June, citing political risk.
(Reporting by Carolyn Cohn; editing by Sujata Rao)
((carolyn.cohn@reuters.com; 44 207 542 6320; Reuters Messaging: carolyn.cohn.thomsonreuters.com@reuters.net))
Keywords: EGYPT RATING
