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Moody's downgrades Lebanon, cites default risk

Lea Fayad

Author: Lea Fayad

Breaking Headlines

06-11-2019 | 10:38

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Moody's downgrades Lebanon, cites default risk

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Moody's Investors Service on Tuesday downgraded Lebanon's rating to Caa2, citing the increased likelihood of a debt rescheduling it would classify as a default, following protests that toppled the government and shook investor confidence.

Lebanon's issuer rating, which was lowered from Caa1, remained under review for downgrade, Moody's said. Moody's classifies Caa ratings as very high credit risk.

REUTERS

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