S&P Rates Lebanon at CCC/C with Negative Outlook

International ratings agency Standard & Poor's confirmed Lebanon's rating at CCC/C with negative outlook for the country's economy, reports said Saturday.

The agency stated that “Lebanon may eventually face difficult political options regarding monetary and banking systems in the future.”

It pointed out that “the dangers of the prolonged political vacuum increase the ambiguity over the policies,” noting that “the system of power-sharing based on religion in Lebanon can delay any political solution regarding the formation of the government.”

“Standard and Poor's,” noted that “potential reforms may not be sufficient to find a fundamental solution to the great financial and economic pressures.”