VOL. XLV
No 51/52
23/30-December-2002
EGYPT/JORDAN
Moodys Downgrades Cairo-Amman Bank
Moodys Investors Service has downgraded the financial strength rating of Jordan-based Cairo-Amman Bank to E+ from D, with a stable outlook. This move concludes a review that stemmed from the recent deterioration in the banks loan portfolio and from a reduction in the franchise value of its operations in the West Bank and Gaza. Although Cairo-Amman Banks operations in Jordan had shown good results, the...
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