One of the leading US rating agencies, Moody's, says "Lebanon's rating remains C," while changing the outlook to "stable," according to Reuters.
In its report, Moody's explains that "Lebanon's stable outlook reflects its expectation that the rating will remain C for the foreseeable future."
It believes, however, that "the continuing political vacuum increases the risk of a long-term economic, financial, and social crisis," pointing out that "Lebanon's exposure to renewed violent conflict between Israel and Hamas will partly offset recent progress in the tourism sector."
In its report, Moody's explains that "Lebanon's stable outlook reflects its expectation that the rating will remain C for the foreseeable future."
It believes, however, that "the continuing political vacuum increases the risk of a long-term economic, financial, and social crisis," pointing out that "Lebanon's exposure to renewed violent conflict between Israel and Hamas will partly offset recent progress in the tourism sector."
Read more
Comments