As Perfectly Expected, Moody's Cuts Revolutionary Egypt From Ba1 To Ba2, Outlook Negative, CDS Spikes

Tyler Durden's picture

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Id fight Gandhi's picture

Egypt 10 yr at record high yield, near 7.5? that quote right? Anything over 7% is the doom bringer for defaults

Dick Darlington's picture

And to keep the fubar bs in balance they have now done 180 what comes to Spain. Seems that the gravy train still had one spot open for the last fool.

Racer's picture

And the US futures continue to climb

max2205's picture

Ahead of the curve again I see. NOT. worthless MF's

Quintus's picture

Is it a bird?  Is it a plane?  No, it's Captain Hindsight!

Hephasteus's picture

Yo moody's. While your handing out grades and permission to live or die. Why don't you paint a giant F on a baseball bat and permit it to get shoved up your ass.

cossack55's picture

I missed the title and thought they were talking about amerika.

DavidC's picture

Hilarious Tyler! DavidC

Sudden Debt's picture

from Ba1 To Ba2....


Ba1 is much better then Ba2 right?  Or is Ba2 worse then Ba1?....



Judge Smales's picture

Right, Moody's, because I guess these conditions didn't exist last week, or last year, or the last 20 years when you had them rated higher. Sometimes, those "deep-seated political and socio-economic challenges" sneak right up on you.

Moody's notes that Egypt suffers from deep-seated political and socio-economic challenges. These include a chronic high rate of unemployment, elevated inflation and widespread poverty. These, together with a desire for political change, have fueled popular frustrations.

Spigot's picture

All "Ratings Agencies" useless except that they provide numbers which are plugged into computerized trading systems. Just as the numbers from the BLS, etc only matter in so much as they are fodder for these automated systems, so RA's provide numbers. No thinking person cares anymore what Moody's rates anything at...well, maybe pension funds.