S&P assigns 'negative' rating to Egypt banks - The National

Regime change may have renewed hopes of a more democratic society in Egypt, but the health of the economy still hangs in the balance.

Commercial International Bank (CIB) and National Bank of Egypt (NBE) were in the spotlight this week as the ratings agency Standard & Poor's (S&P) assigned a "negative" outlook to both banks.

"We believe Egypt's authorities face challenges in managing the country's political transition and pressures on its fiscal performance," S&P said in a note.