3 21st International rating agency Moody's lowered again Egypt 5 bank ratings, and made it clear that, under the current political situation, the move was made to the economic weakness of the country could face an inevitable reaction.

the Moody's will Egypt 5 banks Exchange mortgage rating downgrade from Ba3 to B1, namely Egypt National Bank, Egypt's second-largest bank Banque Misr, Egypt Cairo, State-owned banks, commercial International Bank and the Bank of Alexandria. While Egypt National Bank, BanqueMisr and Egypt local currency of the State-owned bank in Cairo in the three State-owned bank mortgage downgrade rating from Ba1 to Ba3.

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previously , Moody's just Egypt sovereign debt credit ratings, reduced from Ba2 to Ba3, making Egypt prospects remain negative. The Agency said Moody's was given Egypt continued instability of the political situation, and taking into account the Libya instability of the situation might give Egypt the impact of, before making this decision. In addition, the Agency believes that Egypt "economic, financial and balance of payments situation overall deterioration in prospects for growth", particularly Egypt Central Bank according to data published last month, Egypt's foreign exchange reserves "substantial" reduction.

This Moody on Egypt Bank downgrade reason is Egypt face of sovereign credit risk amplification, and the economic situation is deteriorating. The Agency also made it clear that: the current political situation to the negative impact on the performance of the country's economic and banking. Moody's conjecture, Egypt foreign capital flight, and the Central Bank of the foreign exchange reserves were reduced because equity injection into the market to prevent their currencies earlier Egypt depreciation of the pound.