Five Egyptian lenders downgraded by Moody's
- Egypt: Sunday, February 17 - 2013 at 04:55
Credit rating agency Moody's Investors Service has downgraded the standalone credit assessment of five Egyptian banks, Ahram has reported. Moody's downgraded the National Bank of Egypt, Banque du Caire, and Banque Misr to 'Caa2' from 'B3.' It also downgraded Commercial International Bank and Bank of Alexandria to 'B3' from 'B2.' Moody's said further downgrading is expected if the banks' loss absorption capacity weakens. Improvements in the macroeconomic environment could upgrade Egypt's bank ratings Moody's said.
- Pratt & Whitney expects 'substantial' increase...
- Boeing to launch larger Dreamliner
- Egypt, Sudan to buy oil shipments from Iraq on...
- Sammy Tuffaha underscores importance of...
- Kuwait Stock Exchange climbs over 8,000
- Expats account for 77% of workers in Bahrain
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by Mediaquest FZ LLC and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
Mediaquest FZ LLC can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of Mediaquest FZ LLC.
In no event shall Mediaquest FZ LLC be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.