Middle East Economic Survey


No 32



Moodys Assigns Baa2 To $600Mn NBE Bonds

Moodys Investors Service has assigned a Baa2 rating to the $600mn senior unsecured fixed-rate bonds guaranteed by the National Bank of Egypt, with the outlook stable, it said on 5 August. The bonds, issued by Nile Finance Limited, mature in August 2015. Moodys said the rating was in line with NBEs local currency bond rating and was not affected by the Baa2 foreign currency bond ceiling for Egypt....