Moody’s Downgrades Five Egyptian Banks

Published on Monday, 07 Nov 07:00 am

Moody’s Investors Service on 1 November downgraded the local currency deposit ratings of five Egyptian banks: National Bank of Egypt to B1 from Ba3; Banque Misr to B1 from Ba3; Banque du Caire to B1 from Ba3; Commercial International Bank (Egypt) to Ba3 from Ba2; and Bank of Alexandria to Ba2 from Ba1.
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