Middle East Economic Survey
Ratings Agencies Downgrade Egypt On Political Unrest
The three big ratings agencies took action on Egypt last week as a result of the political unrest. Standard & Poors lowered Egypts long term foreign currency ratings to BB from BB+ (on negative watch); Moodys cut its bonds to Ba2 from Ba1 (outlook changed to negative from stable); and Fitch downgraded its outlook for the country to negative, but held steady on its long term...
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