VOL. XL

No. 35

1-September-1997

EGYPT

IBCA Assigns Egypt Investment Grade Rating

On 19 August IBCA, the European credit rating agency, assigned Egypt an investmentgrade sovereign rating of BBB-. IBCA also assigned Egypt a short-term (up to one year)foreign currency rating of A3 and a long-term local currency rating of A-.

Long-term

Short-term

Local Currency

Forex Rating

Forex Rating

Rating

Egypt

BBB-

A3

A-

IBCA said that "Egypt was now a net external creditor(with) five...