Moody’s alters outlook for five Egyptian banks to negative ...Egypt

Global credit rating agency Moody’s Investors Service has altered the outlook for five Egyptian banks, bringing their long-term deposit ratings to negative from stable. These five banks are the National Bank of Egypt, Banque Misr, Banque du Caire, Commercial International Bank Egypt, and ALEXBANK. Moody’s added in the statement that it has maintained the long-term deposit ratings of three state-owned banks, namely National Bank of Egypt (Al Ahly), Banque Misr, and Banque du Caire, as well as Commercial International Bank Egypt at “Caa1”, and it has also upheld the rating of Alexandria Bank at “B3”.   Egypt faces hard economic pressures The Moody’s credit rating agency anticipates that Egyp

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