VOL. XLIV
No. 26
25-June-2001
EGYPT
Egypts Lakah Group Defaults On Eurobond Payment; Downgraded By Fitch IBCA
Egypts Lakah Group, a health care and industrial conglomerate, has defaulted on its Eurobond interest payment, resulting in a ratings downgrade for the company by the international ratings agency Fitch IBCA. The agency announced on 14 June that it had downgraded the Groups Senior Unsecured debt rating to D from CC. "This rating action follows the groups failure to make the 8 June 2001...
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