S&P revises Lebanon view to negative

S&P said it revised the outlook on Lebanon to negative from stable and affirmed the long- and short-term sovereign credit ratings at B-/B.

“The negative outlook reflects the risk that a lack of material reforms to reduce the budget deficit will see investor confidence wane. As a result, nonresident deposit flows may decelerate and foreign exchange reserves could continue to decline, eroding Lebanon's ability to service foreign currency debt, S&P said in a news release.

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