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Standard and Poor's Revises Lebanon’s Status to 'Stable'
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The International credit rating agency, Standard and Poor's, (S&P), has revised the status of Lebanon to stable from positive. The B/B long-and short-term sovereign credit ratings were affirmed. Also unchanged was the transfer and convertibility (T&C) assessment at ‘BB-‘. The recovery rating of ‘4’ remained unchanged as well.

 The revision came as a result of the state of political uncertainty that engulfs the country.

 “…the political impasse caused by Hezbollah and its March 8 coalition allies’ withdrawal from the unity government will be difficult to overcome, and the incumbent administration, which is to be a caretaker government, will struggle to govern,” said S&P in describing its rationale for revising Lebanon’s credit status.

 

 

 

Date Posted: Jan 19, 2011
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