Capital Intelligence Cuts CIB Egypt’s Long-term Foreign Currency Rating to ‘B-‘

Global ratings agency Capital Intelligence has downgraded the long term foreign currency rating of Commercial International Bank (CIB)- Egypt (COMI.CA) to ‘B-‘, affirming the lender’s short term foreign currency -term rating at ‘B’. \

This came after the agency had lowered Egypt’s long term foreign currency sovereign rating to B- from B with Negative outlook.