Credit Ratings

Moody’s affirms 5 Egyptian banks’ ratings, downgrades outlooks to negative

Wed, 24 Jan 2024 - 11:27 GMT

The decision comes one week after the investor service’s downgrade of Egypt’s sovereign outlook to negative, citing increased risks caused by challenging macroeconomic and exchange rate rebalancing

Fitch Ratings lowers credit rating of 3 state banks and 1 private bank to B-

Tue, 14 Nov 2023 - 03:40 GMT

Fitch lowered its long-term issuer default rating for state-owned National Bank of Egypt, Banque Misr and Banque Du Caire, as well as Commercial International Bank (CIB)

S&P downgrades outlook for three Egyptian banks to negative

Tue, 02 May 2023 - 12:39 GMT

Since March 2022, the three banks released multiple types of high-yield CDs, ranging from annual yields of 18 percent to 25 percent

Egypt's government dealt positively with concerns of Moody's report: Min.

Wed, 08 Feb 2023 - 05:55 GMT

The minister explained that these measures contributed to Standard & Poor's fixing Egypt's credit rating with a stable outlook, especially in light of commitment to the pace of economic reform supported by the International Monetary Fund (IMF), with an agreement extending to 48 months.