Moody's has taken up Egypt's ratings

Egyptian riots have led to downgrade of the country's sovereign debt obligations. Moody's changed its rating from Ba1 to Ba2, adding a negative outlook. Rating on liabilities in foreign currency fell from Baa2 to Baa3 on currency bank deposits from Ba2 to Ba3.

Solution Moody's is due to the recent anti-government protests in the country, which increased the political risks and fears of deteriorating financial condition Egypt. Вполне вероятно, что текущее снижения рейтинга — это только начало.

Moody's experts note that Egypt is in a difficult political and socio-economic situation. There is a possibility of a loosening of fiscal policy, which the government will resort to in order to reduce the level of public discontent.