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Fitch Affirms Lebanon's Long-Term Foreign-Currency IDR at 'RD'

20-08-2020 | 08:47

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Fitch Affirms Lebanon's Long-Term Foreign-Currency IDR at 'RD'

Fitch Ratings has affirmed Lebanon's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'Restricted Default' (RD) and Long-Term Local-Currency IDR at 'CC'.

According to Fitch Ratings, Lebanon remains at (RD) on its foreign currency government debt, following the sovereign's failure to pay the principal on the Eurobond that matured on 9 March 2020.

The agency pointed out that Lebanon's progress in reform and debt restructuring will require greater cooperation between the political and economic elites.

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