Standard & Poor's international ratings agency confirmed Lebanon's rating at CCC/C with negative outlook for the country's economy, reports said Saturday.
The agency stated 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.”
The reports added that “Lebanon may eventually face difficult political options regarding monetary and banking systems in the future,” noting that “potential reforms may not be sufficient to find a fundamental solution to the great financial and economic pressures.”
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