Moody's Investors Service has downgraded the issuer ratings of the Lebanese government to Caa1 from B3. It changed the outlook on the country to stable from negative.
The rating agency said its decision to downgrade the ratings "reflects the heightened risk that the government's response to increased liquidity and financial stability risks will include a debt rescheduling or other liability management exercise that may constitute a default under Moody's definition."
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