Moody's lifts Lebanon view to positive

Moody's Investors Service said it changed the outlook on Lebanon's B2 government bond issuer ratings, B2 country ceiling for foreign-currency bank deposits and B1 country ceiling for foreign-currency bonds to positive from stable.

The agency said the rating action was prompted by a continuation of the positive trends that led Moody's to upgrade Lebanon's sovereign ratings in April 2009: the continued improvement in external liquidity, the strengthened ability of the country's resilient banking system to finance fiscal deficits and an amelioration of the domestic political situation with the formation of a consensus government in November.

Despite the recent improving trends, Moody's added that it is well aware of Lebanon's significant political and economic vulnerabilities, including wide twin deficits, a very high public debt overhang, a tense domestic political environment and a precarious geopolitical location.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.