Middle East Economic Survey
Moodys Downgrades Egypts Bond Ratings
Moodys Investors Service downgraded Egypts foreign and local currency government bond ratings by one notch to Ba3 from Ba2 on 16 March. The agency also downgraded the country ceiling for foreign currency bonds to Ba1 from Baa3 and the country ceiling for foreign currency bank deposits to B1 from Ba3. The outlook on these ratings remains negative. Moodys said that Egypts prolonged political...
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