Fitch revises Lebanon view to negative

Fitch Ratings said it revised the outlooks on Lebanon's long-term foreign and local currency issuer default ratings to negative from stable and affirmed the issuer default ratings at B-.

“The revision of the outlook on the long-term issuer default ratings reflects a further deterioration in government deficits and debt dynamics and signs of rising pressures on Lebanon's financing model, including a decline in deposit growth, and increasing reliance on unorthodox measures by the central bank in response to these pressures,” the agency said in a news release.

“Lebanon's public finances have worsened in 2018 and risks to the medium-term sustainability of government debt have risen.”

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