No. 26



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...