Naharnet

Fitch Downgrades Lebanon Credit Rating to CC

International ratings agency Fitch on Thursday bumped Lebanon’s credit rating down to "CC" from "CCC", after an initial downgrade in August.

"The downgrade of Lebanon's ratings reflects Fitch's view that a government debt restructuring or default is probable owing to acute political uncertainty, de facto capital controls and damaged confidence in the banking sector," it said.

Source: Naharnet


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