Latest in Tag: Moody’s Highlight

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Latest in Tag: Moody’s

Moody’s upgrades five Egyptian banks, outlook changed to stable

Moody’s Investors Service (Moody’s) upgraded on Tuesday, the long-term local-currency deposit ratings of the National Bank of Egypt SAE (NBE), Banque Misr SAE (BM), and Banque Du Caire SAE (BdC) and the Commercial International Bank (Egypt) SAE (CIB) to B2 from B3, and their long-term foreign currency deposit ratings to B3 from Caa1. Furthermore, the …

Daily News Egypt

Moody’s upgrades Egypt’s ratings to B2

Moody’s, credit rating agency, upgraded Egypt’s rating to B2 from B3 and changed the country’s outlook to stable from positive. Finance Minister Mohamed Moeit said that Moody’s decision to raise the credit rating of Egypt to B2 while maintaining a “stable outlook” is a new certificate from the world’s leading rating agency for the success of …

Shaimaa Al-Aees


Video: CBE interest rate cuts in the eyes of Moody’s

Egypt’s interest rate cut and easing inflation will support bank revenues, credit rating agency Moody’s told Daily News Egypt. They cited the Central Bank of Egypt’s (CBE) 1% interest rate cut as credit positive for banks. Accordingly, as inflation is currently below the CBE’s 9% target, Moody’s forecasts further rate cuts over the next year, …

Daily News Egypt

Interest rate cut to reduce borrowing costs: Moody’s

Egypt’s key credit challenges, including weak finances, large financing need, and high borrowing cost, drive exposure to interest rate shocks as well as large domestic funding cost to remain high, Elisa Parisi-Capone, vice president and senior analyst at Moody’s Investors Service, told Daily News Egypt. Moody’s believes that interest rate cut will be a step …

Daily News Egypt

Stable outlook for Levant, North Africa in 2019, although slowing reforms point to downside risks: Moody’s

The 2019 stable outlook for sovereign creditworthiness in the Levant and North Africa region reflects support from modest domestic growth and some expected further progress on fiscal consolidation, set against the slowing pace of structural and fiscal reforms in most countries, Moody’s Investors Service said in a report on Tuesday. The report titled, “Sovereigns – …

Daily News Egypt

Beltone downplays Moody’s short-term debt concerns

Beltone, expects that Egypt to continue the current trend depending on the external debt market to benefit from restoring investor’s confidence, according to a research note released by the firm. The note indicates that despite the current improvement in economic indicators, local currency deposits for new T-bills only cover 35% of the budget deficit in …

Daily News Egypt

Moody’s AFP

Moody’s ranks Egypt’s 1st movable collateral registry as credit positive for banks

Moody’s Investors Service announced on Sunday that Egypt’s first movable collateral registry, which was launched by the Financial Regulatory Authority last Sunday, is credit positive for Egyptian banks. The newly launched collateral registry will inform banks’ credit decisions and improve their ability to secure movable collateral, such as a borrowers’ machinery, inventory, patents, and crops, …

Mohamed Samir

Moody’s AFP

Egypt’s Capital Market Law amendments are credit positive: Moody’s

The latest amendments to Egypt’s Capital Market Law, recently approved by parliament, are credit positive for the country’s banks, according to a statement issued by the credit rating agency Moody’s on Monday. According to the statement, the amendments will improve and deepen Egypt’s financial markets and investors’ ability to hedge, making the country a more …

Daily News Egypt

Moody’s China downgrade rattles Asian markets

After ratings agency Moody’s cut China’s sovereign credit rating, Asian shares have fallen and the Australian dollar skidded on renewed worries about the impact of rising debt in Asia’s economic powerhouse.China’s main stock index fell 1 percent on Wednesday, dragging the MSCI index of Asia-Pacific shares down 0.2 percent after Moody’s had slashed China’s credit …

Deutsche Welle