VOL. XLI

No. 21

25-May-1998

EGYPT

S&P Assigns Rating To CIB

The US ratings agency Standard and Poor's (S&P) on 19 May assigned a BBB- long-termand A-3 short-term counterparty ratings with a stable outlook to Egypt's CommercialInternational Bank (CIB) - the same as Egypt's sovereign rating. S&P said CIB'sfinancial profile was "stable and strong" and that the bank "possesses boththe financial and managerial strengths to benefit from new economic developments inEgypt." The agency also...