| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Commercial International Bank SAE > News item |
S&P affirms 3 Egypt banks
Standard & Poor's said it affirmed the ratings on three Egyptian banks.
National Bank of Egypt and Commercial International Bank SAE's long- and short-term counterparty credit ratings were affirmed at BB/B.
The agency also said it removed the ratings on both banks from CreditWatch, where they were placed with negative implications in February.
The outlook is negative.
The agency also said it affirmed the unsolicited BBpi rating on National Societe Generale Bank SAE.
The affirmations follow the affirmation of the ratings on the Republic of Egypt.
The affirmations reflect a view of the resilience of the banks' financial profiles so far, following some signs of strengthening in 2010, S&P said.
The agency said it thinks this resilience will likely help the banks offset the short-term pressure on their financial profiles at the current rating level.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.