Ratings agency Moody’s downgraded Egypt’s government bond rating by one notch to Caa1 on 21 March and put the country on further negative outlook.

Moody’s says the “primary driver” for its downgrade decision “is the deep polarization of the country’s democratically elected government and those in opposition as a result of the ongoing unsettled political conditions and repeated episodes of violent civil unrest. (CONTINUED - 442 WORDS)