Fitch cuts Lebanon’s credit rating on expectation of default
The credit rating agency says the country, which has a public debt burden of about 150% of GDP, is likely to default or undergo political restructuring
12 December 2019 - 18:46
London — Fitch cut Lebanon’s credit rating for third time in a year on Thursday, warning it now expects the crisis-hit country to restructure or default on its debt.
Fitch said its decision to chop the rating to CC from CCC reflected its view that a restructuring or default is now “probable, owing to acute political uncertainty, de facto capital controls, and damaged confidence in the banking sector”...
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