VOL. XLVI

No 35

01-September-2003

EGYPT

RATINGS

...Puts NBE And CIB On Negative Outlook

Following its downgrade of Egypts long-term local currency credit rating, S&P said it had revised its outlook on both National Bank of Egypt (NBE) and Commercial International Bank (CIB) to negative from stable. At the same time, the BB+ long-term and B short-term counterparty credit ratings on both banks were affirmed. The ratings on NBE and CIB will continue to depend directly on the ratings on Egypt, and...