VOL. XLIII

No. 29

17-July-2000

EGYPT

And Revises Outlook On NBE And CIB From Stable To Negative

S&P revised to negative from stable its outlook on the National Bank of Egypt (NBE) and the Commercial International Bank (CIB), while it affirmed its triple B-minus long-term and A-3 short-term counter party credit ratings on the two banks. The ratings on NBE were based on the banks 100% government ownership, strong commercial position and adequate liquidity. But the bank remains burdened by a...