Egypt Revolts; Moody's downgrades credit rating from B3 to Caa1, citing default risk (1046716)		Home · Maps · About

Home > OTChat
	[ Read Responses \| Post a New Response \| Return to the Index ] [ First in Thread ]

Egypt Revolts; Moody's downgrades credit rating from B3 to Caa1, citing default risk

Posted by Olog-hai on Thu Mar 21 13:31:59 2013, in response to Egypt Revolts!, posted by JayZeeBMT on Fri Jan 28 16:01:55 2011.

Reuters

Moody's cuts Egypt's rating on 'unsettled' political conditions
Thu Mar 21, 2013 10:12am EDT
Moody's Investors Service on Thursday downgraded Egypt's sovereign foreign currency credit rating to Caa1 form B3, citing unsettled political conditions, and said risks of a default have increased.

The government's inability to secure financing from the International Monetary Fund has exacerbated a lack of predictability in the Middle East nation's economy and fiscal policies.

The outlook on the credit is negative, Moody's said in a statement.

Egypt is rated one notch higher at B-minus with a negative outlook by Standard & Poor's while Fitch Ratings has Egypt two notches higher at B with a negative outlook.

(There are no responses to this message.)

Post a New Response

Your Handle:
Your Password:
E-Mail Address:
Subject:
Message:
Before posting.. think twice!

[ Return to the Message Index ]