VOL. XL

No. 50

15-December-1997

EGYPT

IBCA Rates CIB

IBCA, the European credit rating agency, announced on 26 November that it has assignedlong and short-term investment grade ratings of BBB- and A3 respectively to EgyptianCommercial International Bank (CIB). The Legal rating has been changed from 2T to 2 (with-the "T" suffix representing the transfer risk for foreign currency creditors),whilst the bank's individual rating remains at B/C. IBCA said that CIB, Egypt's fifthlargest bank in terms...