Decision of the Board of Directors of the General Authority for Financial Supervision

No. (71) of 2009 dated 2009/12/2

Chairman of the Board of Directors of the General Authority for Financial Supervision

Having reviewed the Capital Market Law No. 95 of 1992 promulgating the Capital Market Law, and its Executive Regulations,

and on Law No. 10 of 2009 concerning the regulation of supervision over non-banking financial markets and institutions,

and on the memorandum presented to the Authority's Board of Directors.

and on the approval of the Authority's Board of Directors in its meeting held on 2009/11/23,

It has been decided

Article (1)

Credit rating reports for securities issuances, including corporate bonds, securitization bonds, and financing certificates, issued by the following international agencies, shall be accepted:

No.	Credit Rating Agency Name	Country
1-	Fitch Ratings (Fitch)	United States
2-	Moody’s Investor Services (Moody’s)	United States
3-	Standard and Poor’s Inc (S&P)	United States
4-	A.M. Best	United States
5-	Japan Credit Rating Agency, Ltd. (JCR)	Japan
6-	Rating & Investment Information, Inc. (R&I)	Japan
7-	Dominion Bond Ratings Services (DBRS)	Canada

Article (2)

The relevant sectors and central departments of the Authority shall implement this decision according to their respective jurisdictions.

Article (3)

This decision shall be published in the Official Gazette and shall take effect from the day following its publication date.

Dr. Ziad Boutros El-Din
Chairman of the Authority

General Authority for Financial Supervision
Office of the Chairman
46076

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Km 78, Matrouh / Alexandria Desert Road
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Telephone: 202 2537 0040 - Fax: 202 2537 0041
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg

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Fedafin Federolism & Financial AG (Fedafin) - 8
Austin Ratings - 9
Evler Hermes Rating GMBH - 10

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