VOL. XL

No. 40

6-October-1997

EGYPT

Moody's Put Egypt On Review For Possible Upgrade

Citing the government's "deepening policy commitment to structuralreformexemplified particularly by the privatization program," Moody's InvestorsService announced on 1 October that it had put Egypt's long-term Ba2 (BB) sovereignceiling and Ba3 (BB-) cap on long-term foreign currency bank deposits on review forpossible upgrade. The US-based agency had said in August that the outlook for Egypt wasimproving (MEES,...