VOL. XLII

No. 24

14-June-1999

EGYPT

S&P Rates Suez Canal Insurance BBB+; Outlook Stable

Standard & Poor痴 (S&P) assigned a BBB+ long-termcredit and insurer financial strength rating to Suez Canal Insurance on 2 Juneand said the outlook was stable. According to a statement from the agency, theratings are based on the company痴 strong capitalization, operating performanceand business position within the Egyptian insurer market.

"Despite these overwhelming strengths, partiallyoffsetting...