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