Egypt: MERIS(Middle East Rating & Investors Service)Maintained the National Scale Rating (NSR) of a "BBB-" for the Entity Rating and the Instrument Rating of Ezz Steel Company second bond issue. The rating outlook is "Stable" for both the entity and the instrument.

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Moody's continues to expand into developing markets through joint ventures or affiliation agreements with local rating agencies.

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    Middle East Rating & Investors Service (MERIS)

    Moody's Investors Service announced on August 5, 2003 an agreement with Finance and Banking Consultants International (FINBI) to form a joint venture to provide credit rating and research services in Egypt. The two firms will jointly form a credit rating agency to be named Middle East Rating & Investors Service (MERIS) that will be headquartered in Cairo. MERIS will focus on issuing domestic market ratings, opinions of the relative creditworthiness of issuers or issues within a given country. Moody's will provide technical assistance to the joint venture.

     

    Finance and Banking Consultants International was established in 1992 with activities covering public policy and strategic planning, economic and financial services and local and international development services. FINBI also was one of the first to introduce credit ratings to the Egyptian market, establishing its own credit rating activity in 1999. Since its inception, FINBI's rating activity has assigned ratings to some of Egypt's largest and best-known companies.

     

    Highlights

    Ezz Steel Rebars Company (ESR) - July...

     

    MERIS Maintained the National Scale Rating (NSR) of a "BBB-" for the Entity Rating and the Instrument Rating of Ezz Steel Co. 2nd bond issue. The...

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    Egyptian Securitization Company (ESC) - 2nd Issue - 2009-2014 - July...

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    Structured Finance Presentation

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    Codes of Conduct

    Financial markets should be efficient and fair to all market participants. Credit rating agencies play an important information role in these markets. Moody’s Investors Service (“Moody’s”) provides opinions in the form of credit ratings and related ...

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