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Asharq Al-Awsat
Asharq Al-Awsat
Business
Cairo - Asharq Al-Awsat

Moody's Drops Egypt's Rating to B3

Egyptians pass in front of an exchange office with a banner of foreign currencies (AP)

Egypt's dollar-denominated government bonds fell after Moody's cut the country's credit rating from B2 to B3 late Tuesday.

The agency changed its outlook for Egypt to be stable from negative.

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