S&P Global Ratings has downgraded its outlooks on three Egyptian banks, namely the National Bank of Egypt (NBE), Banque Misr, and Commercial International Bank - Egypt (CIB), to negative from stable, the US-based credit ratings agency said in a note on April 28th. Meanwhile, the agency has affirmed its global long- and short-term issuer credit ratings on these banks at “B/B”. This follows the agency’s revision of its outlook for Egypt from stable to negative on April 21st, while maintaining the country’s local and foreign currencies credit ratings at “B”. Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Source: The North Africa Journal May 01, 2023 09:22 UTC