VOL. XLVI
No 35
01-September-2003
EGYPT
RATINGS
S&P Downgrades Egypt To BBB- On Deteriorating Budget Deficit
Ratings agency Standard & Poor's said on 22 August it has lowered Egypts long-term local currency credit rating to BBB- from BBB and affirmed the BB+/B foreign currency and A-3 short-term local currency sovereign credit ratings. The action reflects the projected deterioration of the budget deficit and the consequent reduction in domestic financing flexibility, said S&P credit...
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