MERIS Downgrades Mobinil’s Bond Rating To ‘A-‘

Middle East Rating & Investors service (MERIS) said on Monday it revised in July, 2012 the national scale rating (NSR) of the Egyptian Company for Mobile Services – Mobinil (EMOB.CA) bonds. MERIS downgraded the issue’s credit rating to “A-“, with a stable outlook from “A” with stable outlook for long-term liabilities.

It is worth noting that Mobinil’s financial statements during the period from January 1^st till September 30^th, 2012 have revealed a net loss of EGP 93.933 million.