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BRIEF-Moody's downgrades Lebanon's rating to B3, changes outlook to stable from negative
August 26, 2017 / 12:33 AM / a month ago

BRIEF-Moody's downgrades Lebanon's rating to B3, changes outlook to stable from negative

Aug 25 (Reuters) - Moody’s -

* Moody’s downgrades Lebanon’s rating to B3, changes outlook to stable from negative

* Moody’s says rating downgrade is based on Moody’s view that a B3 rating appropriately captures Lebanon’s credit risk profile

* Moody’s on Lebanon - the stable outlook reflects the return to a fully-functioning government, which will support reform momentum going forward.

* Moody’s says Lebanon’s local-currency bond and deposit ceilings are unchanged at Ba2

* Moody’s on Lebanon - the principal driver of the downgrade is the rise in the country’s debt burden.

* Moody's on Lebanon-cost of hosting Syrian refugees, deterioration in infrastructure, limited donor support have dampened growth to annual average of 1.6 percent in last 3 years Source: bit.ly/2vpaP3a

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