Moody's downgrades ratings of 5 Egyptian banks with stable outlook

Wed, 11 Oct 2023 - 01:52 GMT

This rating action is the second of the year, coinciding with the downgrade of Egypt's sovereign credit rating last Thursday.

Moody’s review on Egypt’s ratings extended for 3 months

Sun, 13 Aug 2023 - 11:40 GMT

The ministry’s official statement added that Moody’s based its recent decision on the structural reforms taken recently by the Egyptian government to stimulate investment and empower the private sector

Moody's downgrades Egypt's ratings to B3, changes outlook to stable

Wed, 08 Feb 2023 - 04:08 GMT

Furthermore, Moody's downgraded Egypt's foreign-currency senior unsecured ratings to B3, and its foreign-currency senior unsecured MTN program rating to (P)B3.

S&P maintains Egypt credit rating at B with "Stable Outlook"

Sun, 23 Oct 2022 - 07:13 GMT

This shows trust that the Egyptian economy has the ability to deal positively with difficult foreign repercussions, topped by the war in Europe and its economic fallout at the international level.

Standard & Poor’s affirms Egypt’s credit rating at 'B' for 4th time

Tue, 26 Oct 2021 - 01:57 GMT

Maait noted that this affirmation is an additional testimony of confidence in the strength and diversity of the Egyptian economy.

Capital Intelligence affirms Banque Du Caire rating at B+, with "stable" outlook

Mon, 22 Mar 2021 - 12:32 GMT

“The rating reflects the success of the bank’s continuous development plans and business strategy despite the challenges that the whole world is witnessing as a result of the Corona crisis,” Fayed said.

S&P keeps Egypt's credit rating at B with stable outlook for 2nd time in 2020

Sat, 07 Nov 2020 - 12:28 GMT

The minister stated the move reflects an international confidence in the stability and solidity of the Egyptian economy.

Moody's rating reflects confidence on Egypt's economy: Finance Min.

Thu, 03 Sep 2020 - 03:27 GMT

Ma’it clarified Thursday that the economic reform program provided a measure of resilience to the Egyptian economy that enables it to interact with internal and external challenges and shocks.

Egypt’s credit rating reflects resilient, diversified economy: Moody’s

Wed, 02 Sep 2020 - 03:34 GMT

It added that relatively low levels of foreign currency-denominated and external government debt also support Egypt's credit profile.

Fitch affirms Egypt’s rating at ‘B+’ with stable outlook

Tue, 26 Nov 2019 - 10:32 GMT

Fitch clarified Monday that Egypt's ratings are supported by a recent track record of economic and fiscal reforms, and improvements to macroeconomic stability and external finances.

Saudi Aramco gets first credit ratings ahead of bond debut

Mon, 01 Apr 2019 - 10:26 GMT

Aramco will start meeting international bond investors this week for its debut in the international capital markets, opening its books to investor scrutiny for the first time.

Fitch affirms Egypt’s IDR at ‘B’ with positive outlook

Mon, 06 Aug 2018 - 04:10 GMT

Fitch attributed the ratings to progress achieved in executing the economic and fiscal reform program, greater macroeconomic stability and improving external finances.

HC expects interest rate to return to earlier levels in 2020, rates 3 banks

Wed, 18 Jul 2018 - 09:36 GMT

Regarding the deposit growth, the report expected it to continue its progress in spite of decreasing interest rates on organic growth.

S&P slashes South Africa rating further into 'junk'

Sat, 25 Nov 2017 - 12:16 GMT

S&P Global Ratings lowered South Africa's credit rating further into "junk" territory on Friday.

Business news wrap-up

Sat, 11 Nov 2017 - 05:33 GMT

A wrap-up for the most prominent business news of the day.

MubasherTrade rates Buy/Low Risk on Arabian Cement

Fri, 14 Jul 2017 - 02:18 GMT

MubasherTrade Research assigned Arabian Cement Co (ACC) a Buy/Low Risk rating, setting its price target (PT) at LE 11.13 ($0.62) per share.

AIIB gets top rating by Fitch

Fri, 14 Jul 2017 - 05:00 GMT

The bank enjoys "an excellent level of liquidity" and should benefit from easy access to capital markets, Fitch said.

Renaissance Capital upgrades CIB to Buy, TP at LE 95.7

Thu, 13 Jul 2017 - 11:58 GMT

Renaissance Capital upgraded Thursday its rating on the Commercial International Bank (CIB), Egypt’s largest private bank.

Moody's downgrades S.Africa on growth, political worries

Sat, 10 Jun 2017 - 11:46 GMT

Credit ratings agency Moody's said it had downgraded South Africa a notch over gloomy growth prospects and the political instability

Standard & Poor affirms US debt rating at AA+

Wed, 07 Jun 2017 - 12:34 GMT

The Standard & Poor's rating agency has affirmed the United States' long-term debt rating at AA+.