VOL. XLVI

No 43

27-October-2003

EGYPT

RATINGS

Capital Intelligence Lowers Foreign Currency Ratings of Egyptian Banks

Capital Intelligence announced on 15 October that it had lowered the long and short-term foreign currency ratings of the Egyptian banks rated at the sovereign ceiling following the recent downgrade in Egypts foreign currency ratings. The countrys previous investment grade ratings of BBB- long-term and A3 short-term were downgraded to BB+ and B respectively. Egypts lower ratings...