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S&P places 3 Egyptian banks on CreditWatch Negative

Standard & Poor's Ratings Services has placed its 'B' long-term and 'B' short-term issuer credit ratings on National Bank of Egypt, Banque Misr, and Commercial International Bank (Egypt) S.A.E. on CreditWatch with negative implications. This rating action follows the placement of the 'B' long-term foreign and local currency sovereign ratings for the Republic of Egypt on CreditWatch with negative implications.