Fitch Ratings Upgrades 4 Egyptian Banks Idrs Following Sovereign Rating BoostSource: www.export-egypt.com 11/19/2024, Location: Africa |
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Fitch Ratings has raised the Long-Term Issuer Default Ratings (IDRs) of the largest four banks in Egypt following the recent upgrade of the country's sovereign rating, a statement said.
Fitch said these rating actions reflect the strong correlation between the banks' creditworthiness and that of the Egyptian government, given the banks' significant exposure to sovereign debt. |
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