VOL. XLVI

No 49

8-December-2003

EGYPT

RATINGS

Fitch Changes Outlook On Egypts Local Currency To Negative

Ratings agency Fitch has changed the outlook on Egypts BBB long-term local currency rating from stable to negative, citing the countrys deteriorating public finances as the primary factor for the move. Fitch affirmed its other ratings on Egypt long-term foreign currency BB+, and short-term B, with stable outlook. Egypts debt burden increased to an estimated 86% of GDP for the fiscal year ended...