VOL. XLV
No 21
27-May-2002
EGYPT
Standard & Poors Downgrades Egypt FromInvestment To Speculative Status
On 22 May, ratingsagency Standard & Poors (S&P) lowered Egypts long-term foreign currency issuercredit and senior unsecured debt ratings to BB+ from BBB-, effectively bringingthem down from investment grade to speculative status. Long-term local currencyissuer credit rating was lowered to BBB from BBB+. S&P also lowered Egypts short-term local and foreign currencyratings to A-3...
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