Egyptian protesters take cover during clashes with riot police near Tahrir Square, in Cairo
Egyptian protesters take cover during clashes with riot police near Tahrir Square, in Cairo. Standard and Poor's ratings agency said it has cut its long-term rating on Egypt by one notch to 'B+' as popular unrest undercuts the country's already weak political and economic outlook. © Mahmud Hams - AFP/File
Egyptian protesters take cover during clashes with riot police near Tahrir Square, in Cairo
AFP
Last updated: November 24, 2011

Standard and Poor's downgrades Egypt rating

Standard and Poor's ratings agency said Thursday it has cut its long-term rating on Egypt by one notch to 'B+' as popular unrest undercuts the country's already weak political and economic outlook.

"The downgrade reflects our opinion that Egypt's weak political and economic profile ... has deteriorated further (following) ... the clashes between protesters and security personnel that began on November 20 and resulted in significant loss of life," S&P said.

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