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Continued unrest in Egypt brings another downgrade
Wednesday, December 21, 2011
Moody's downgrades the sovereign credit rating for Egypt as unrest once again hits Tahrir Square. The latest downgrade moves to Egypt to a B2 rating from B1, having started 2011 at Baa2.
Egypt remians on review for a further possible downgrade as the continued lack of political stability has led to a drop in tax receipts, increased military spending and a depletion of foreign exchange reserves.
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Trading
Funds
Structured
CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
