The credit rating agency Moody's has downgraded the Sovereign long-term issuer ratings to B3 from B2. The agency also changed the outlook from negative to stable.
Moody's said that the principal driver for the ratings downgrade to B3 from B2 was the rise in the debt burden. According to the rating agency's estimates, public debt is likely to reach nearly 140 percent of GDP in 2018.
"The ongoing erosion of Lebanon's very weak government finances will continue to constrai...
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Moody's said that the principal driver for the ratings downgrade to B3 from B2 was the rise in the debt burden. According to the rating agency's estimates, public debt is likely to reach nearly 140 percent of GDP in 2018.
"The ongoing erosion of Lebanon's very weak government finances will continue to constrai...
Article details
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