VOL. XLIII

No. 32

7-August-2000

EGYPT

Thomas Financial BankWatch Revises Egypts Sovereign Risk Rating From Positive To Stable

Thomas Financial BankWatch (TFBW) on 27 July revised Egypts outlook from positive to stable, with the sovereign risk rating still at BB+. According to TFBW, the revision in outlook stems from signs of deterioration in fiscal trends and concerns over the slowdown in the implementation of reforms that are needed to stabilize the economy. The ratings agency, like other...