Standard & Poor's Downgrades Lebanon's Rating to 'Selective Default'
Standard & Poor's Global Ratings downgraded Lebanon's sovereign debt in foreign currency to a "selective default" from (CC / C), warning that talks on debt restructuring may be complicated and prolonged.
Standard & Poor's said it would likely cancel this designation whenever Lebanon exchanges any debt or activates a restructuring agreement between Lebanon and its creditors.
Source: Naharnet
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