VOL. XLII

No 21

24-May-1999

EGYPT

Moodys Asserts Egypts Bond And Bank Deposit Ratings

Moodys Investors Service said in a statement on 13 May thatthe country ceilings of Ba1 for bonds and notes and Ba2 for bank depositsreflect Egypts improved credit fundamentals and a deepening process ofmarket-oriented structural reforms. The agency said prudent macroeconomicpolicies within the framework of a series of IMF-sponsored programs (whichbegan in 1991 and from which Egypt recently graduated) have...