Moody's Investors Service has today downgraded Egypt's government bond ratings to Ba2 from Ba1 and has changed the outlook to negative from stable. Today's rating action was prompted by the recent significant rise in political event risk and concern that the policy response could undermine Egypt's already weak public finances. We had previously signaled that such developments may result in a ratings downgrade.
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Source: http://www1.albawaba.com/main-headlines/egypts-government-bond-ratings-downgraded
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