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Fitch downgrades Egypt credit-rating on political instability

Fitch cuts Egypt credit-rating following Standard & Poor's downgrade in December

Ahram Online, Wednesday 30 Jan 2013
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Views: 1824

Credit-rating agency Fitch cut Egypt's sovereign rating from "B+" to "B" citing political strife and an ever-growing budget deficit.

Fitch warned that a further downgrade is "possible" if the political situation remains turblent.

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