Fitch assigns ‘B(EXP)’ rating to NBE’s USD Senior Bond, outlook stable
The Fitch Ratings headquarters in New York - AFP

CAIRO: Fitch Ratings has assigned Tuesday National Bank of Egypt’s upcoming USD senior unsecured bond an expected rating of ‘B(EXP)’/’RR4′, with a “stable outlook,” it said in a Tuesday statement.

“The final rating is contingent upon the receipt of final documents conforming to information already received,” Fitch said.

The rating agency added that the announced bond issue follows the first international bond issue by the Egyptian sovereign earlier this month.

It is the first international bond placement by NBE since August, 2010 and the first by any Egyptian bank since 2011.

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