Fitch Downgrades Egyptian Banks' National Ratings; Affirms International Ratings

...Fitch Ratings reviewed its Latin American portfolio of insurance companies with international scale ratings regarding the impact of the coronavirus pandemic. Approximately one-third of the cohort received a downgrade, Negative Outlook or Rating Watch Negative, with downgrades totaling 75% of negative outcomes. However, 67% of reviewed ratings were affirmed with Stable Outlooks, primarily due to insurers' fundamentals remaining strong for their rating category, with solid business profiles, adequate financial performance and leverage ratios that remained appropriate for their rating category....

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