{"id":603504,"date":"2019-04-24T04:00:19","date_gmt":"2019-04-24T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/"},"modified":"2019-04-24T04:00:19","modified_gmt":"2019-04-24T04:00:19","slug":"moodys-upgrades-credit-ratings-of-five-egyptian-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/","title":{"rendered":"Moody\u2019s upgrades credit ratings of five Egyptian banks"},"content":{"rendered":"

<\/a> Moody\u2019s upgrades credit ratings of five local banks, with stable outlook: <\/b>Moody\u2019s has upgraded our friends at CIB along with Banque du Caire, the National Bank of Egypt, Banque Misr, and Bank of Alexandria\u2019s credit ratings, the agency<\/a> said in a statement. The first four banks saw their long-term local-currency deposit ratings improve to B2 from B3, while Alexbank rose to B1 from B2. The agency changed its local currency deposit outlooks for all banks to stable from positive. The banks also saw their long-term foreign currency deposit rating upgraded to B3 from Caa1.<\/p>\n

Moody\u2019s has also upgraded the banking sector\u2019s <\/b>macro profile<\/b><\/a> to Weak from Very Weak,<\/b> following last week\u2019s<\/a> sovereign credit upgrade to B2. This reflects the strengthening economic fundamentals and improving operating conditions in the banking sector.<\/p>\n

Egypt\u2019s macro profile is being held back by low income levels, high unemployment and tight credit conditions<\/b>, Moody\u2019s said. Credit remains restricted due to a high concentration of borrowers, legal gaps for secured lending and a growing number of high-risk SME loans.<\/p>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s upgrades credit ratings of five local banks, with stable outlook: Moody\u2019s has upgraded our friends at CIB along with Banque du Caire, the National Bank of Egypt, Banque Misr, and Bank of Alexandria\u2019s credit ratings, the agency said in a statement. The first four banks saw their long-term local-currency deposit ratings improve to B2 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[204,72,7087,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603504","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-banking","tag-enterpriseam","tag-finance","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"40355236-3152-4f9b-ba62-e0fe0474af8a","is_powered_by":true,"section_story_id":"d1b5c4d5-6675-4b57-a6f3-b0d73f4b3012","story_type":"1","photo_url":"","photo_position":"above","related_issue":[603497],"teaser":"","voice_url":""},"yoast_head":"\nMoody\u2019s upgrades credit ratings of five Egyptian banks - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s upgrades credit ratings of five Egyptian banks\" \/>\n<meta property=\"og:description\" content=\"Moody\u2019s upgrades credit ratings of five local banks, with stable outlook: Moody\u2019s has upgraded our friends at CIB along with Banque du Caire, the National Bank of Egypt, Banque Misr, and Bank of Alexandria\u2019s credit ratings, the agency said in a statement. The first four banks saw their long-term local-currency deposit ratings improve to B2 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-24T04:00:19+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Moody\u2019s upgrades credit ratings of five Egyptian banks\",\"datePublished\":\"2019-04-24T04:00:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/\"},\"wordCount\":189,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"EnterpriseAM\",\"Finance\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/moodys-upgrades-credit-ratings-of-five-egyptian-banks\/\",\"name\":\"Moody\u2019s upgrades credit ratings of five Egyptian banks - 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