Fitch: Negative view for 3 Egypt banks

Fitch Ratings said it revised the outlooks on National Bank of Egypt and its wholly-owned subsidiary, National Bank of Egypt Ltd. and Commercial International Bank's long-term issuer default ratings to negative from stable.

The agency also said it affirmed the banks' long-term issuer default ratings at BB+ and short-term issuer default ratings at B, along with their national long-term and short-term ratings at AA (egy) and F1+ (egy).

The outlook on Commercial International Bank's national long-term rating is stable.

The outlook revision reflects the revision of the Arab Republic of Egypt's outlook to negative, following the recent upsurge in political protests, Fitch said.

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