VOL. XL

No. 23

9-June-1997

EGYPT

Moody's Rates The Big Four Egyptian State Banks

On 2 June the US ratings agency Moody's Investors Service releasedfirst-time ratings for the four Egyptian state banks. Bank of Alexandria, Banque du Caire,Banque Misr and National Bank of Egypt (NBE) were all given a non-investment grade ratingof Ba3/Not Prime on long- and short-term deposits and a Bank Financial Strength Rating(BFSR), which rates the bank on a stand-alone basis, of E (save for NBE which received...