LONDON/NEW YORK, March 22 (Reuters) – Britain looked poised
to lose its AAA rating from a second ratings agency after Fitch
Ratings warned on Friday it was likely to downgrade the country
in the coming weeks, citing high government debt levels and weak
A month since Britain was downgraded by Moody’s, Fitch put
the country on review and said a downgrade was a heightened
possibility. A decision is due by the end of April, Fitch said
in a statement.
NEW YORK, March 21 (Reuters) – Standard & Poor’s cut the
sovereign long-term foreign currency credit rating on Cyprus
deeper into junk status on Thursday, lowering the rating to CCC
from CCC-plus as the country struggles with a banking crisis.
The European Union gave Cyprus until Monday to raise the
billions of euros it needs to secure an international bailout or
face a collapse of its financial system that could push it out
of the euro currency bloc.
NEW YORK, March 21 (Reuters) – Moody’s Investors Service on
Thursday downgraded Egypt’s sovereign foreign currency credit
rating to Caa1 form B3, citing unsettled political conditions,
and said risks of a default have increased.
Egypt’s economy has been in crisis since the 2011 overthrow
of Hosni Mubarak, with Islamist President Mohamed Mursi’s
cash-strapped government grappling with sliding currency
reserves, dwindling tourism, a soaring budget deficit and a wave
of often violent street protests.