Moody's on Thursday downgraded Egypt's credit rating by a notch to 'Caa1' from 'B3', citing the country's worsening debt affordability.
"Moody's expects the materialization of asset sale proceeds at the central bank to help restore the economy's foreign currency liquidity buffer," the credit rating agencyThe outlook reflects the agency's expectation that Egypt will have continued access to official
financial support from the International Monetary Fund under its $3 billionA man who was arrested with a loaded crossbow at Windsor Castle saying he wanted to kill Queen Elizabeth was detained for nine years on Thursday after admitting an offence under the Treason Act.
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