Lebanon urged for measures after Moody's rating demotion
Date
1/23/2019 2:56:56 AM
(MENAFN) Lebanon must step up its efforts to establish the new cabinet and execute its reforms, seeing that Moody's Investors Service demoted the long-term investment ratings of the country.
Lebanese Finance Minister Ali Hassan Khalil made the statement in response to the demotion of Lebanon's issuer rating from B3 to hit Caa1.
B3 was an indication that the outlook of Lebanon is in a stable state, while Caa1 means a negative outlook to the country.
The Associated Press (AP) reported the move to be an indication of intensified threats on liquidity and financial stability in Lebanon.
AP added that the risks include "a debt rescheduling or other liability management exercise that may constitute a default under Moody's definition."
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