Rating the ratings

S&P

Global Ratings said that it affirms its sovereign credit ratings on Lebanon at ‘B-/B’ and that the country’s outlook remains negative. The rating pertains to long- and short-term debt in foreign and local currency. “We could revise the outlook to stable if the Lebanese government is able to significantly improve foreign investor confidence by taking credible steps to implement its fiscal consolidation and medium-term electricity sector reform plans,” the credit rating agency said. S&P said that it could lower the ratings in the next six-twelve months if the banking system’s deposits and the foreign exchange (FX) reserves of the Central Bank (BDL) continue to fall. “Continued weakness in foreign currency