VOL. XLII

No. 09

1-March-1999

EGYPT

CIB痴 Rating On Review During Management Transition

Moody痴 Investors Service has placed the financial strengthrating of Commercial International Bank (CIB) on review on 18 February for apossible downgrade, following the resignation of the bank痴 managing director.CIB, which is the highest rated bank in Egypt, is currently rated at C, and itslong and short-term deposit ratings were reaffirmed at Ba2/Not-Primerespectively. In a statement, Moody痴 said that "CIB has...