updated 2/3/2011 8:57:57 AM ET 2011-02-03T13:57:57

Fitch Ratings agency says it has downgraded Egypt's debt grade by one notch to BB from BB plus, citing the violent protests and their consequences for the economy and public finances.

Fitch's downgrade is the third in as many days for Egypt, which has seen deadly clashes between pro- and anti-government protesters. Moody's Investor Services and Standard & Poor's have also this week cut Egypt's creditworthiness.

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