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EC assigned (AA -) Rating Certificate
on September 23,2010
In view of the National Scale Rating, MERIS
"Middle East Rating & Investors Service" assigns EC (AA -) rating with a
negative outlook of its long-term liabilities, i.e. the entity indebtedness was
rated as senior unsecured. This means that EC is nationally scaled in a very
strong position for its investments and ability to settle its debit installments
and interests in due time, according to MERIS analysis based on the attached
financial statements for the FY ending on 30/06/2010.

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