S&P announced that it revised its outlooks on National Bank of Egypt (NBE), Banque Misr and Commercial International Bank (CIB) to Negative from Stable. At the same time, the agency affirmed its 'B-/C' long- and short-term counterparty credit ratings on all three banks. The outlook revision on the banks follows a similar rating action on Egypt on 13 May 2016. The outlook revision on Egypt reflects S&P’s view of a gradual increase in the country's fiscal and external vulnerabilities. S&P expects economic recovery in Egypt to continue being hindered by foreign exchange shortages and a significant drop in tourism revenue. The three Egyptian banks face significant sovereign risk because they hold a high amount of government debt compared with their equity bases and earnings capacity. (S&P)   CIB: EGP44.20 as of 17 May 2016, Rating: Neutral, FV: EGP46.38 per share, MCap: USD5,743 million, COMI EY / COMI.CA