Moody’s revises outlook for 5 Egyptian banks to positive

Moody’s Ratings has affirmed the long-term bank deposit ratings of five Egyptian banks, while it revised their outlook from negative to positive.

Updated 3/13/2024 9:38:00 AM

Moody’s downgrades deposit ratings of 5 Egyptian banks, with stable outlook

Moody’s Investors Services has downgraded the long-term bank deposit ratings of five Egyptian banks, with a stable outlook.

Updated 10/11/2023 2:06:00 AM

Moody's trims deposit ratings of five Egyptian lenders

Moody’s said that downgrading the long-term ratings of the five Egyptian lenders reflects “the weakening operating environment, as captured by Moody's lowering of its Macro Profile for Egypt to "Very Weak+" from "Weak-"; and the high interlinkages between the sovereign's weakened creditworthiness – as indicated by the downgrade of the sovereign rating to B3 from B2 – and the banks' balance sheets, given the banks' significant holdings of sovereign debt securities.”

Updated 2/12/2023 8:23:00 AM