Moody's affirms ratings of five Egyptian banks, changes outlook to positive
Moody's Ratings (Moody's) has today affirmed all ratings and assessments of the five rated Egyptian banks, including the Caa1 long-term deposit ratings of National Bank of Egypt SAE (NBE), Banque Misr SAE (BM), Banque du Caire SAE (BdC) and Commercial International Bank (Egypt) SAE (CIB); and the B3 long-term deposit ratings of Bank of Alexandria SAE (BoA). As part of the same rating action Moody's has changed the outlook on the banks' long-term deposit ratings to positive from negative.