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situation report

Dec 24, 2012 | 13:24 GMT

Egypt: Long-Term Credit Rating Downgraded

Standard and Poor's credit rating agency lowered Egypt's long-term credit rating from B to B-, noting that a further downgrade is possible if domestic political turmoil worsens, Reuters reported Dec. 24. Egypt's short-term rating remained at B. The country's economic situation has steadily worsened in the midst of growing social and political unrest.

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Egypt: Long-Term Credit Rating Downgraded
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