VOL. XLI

No. 36

7-September-1998

EGYPT

Moody's Upgrade Banque Du Caire To E+

The US ratings agency Moody's Investors Service has upgraded the financial strengthrating of Banque du Caire one notch, from E to E+. Ratings for the bank's long-termforeign currency deposit (Ba2) and its short-term rating (Not Prime), remain unaltered.The upgrade was attributed by the agency to an improvement in the bank's asset quality, anincrease in its loan loss provisioning equal to 12.5% of gross loans, and...