Fitch downgrades Lebanon

Fitch Ratings said it downgraded Lebanon's long-term foreign-currency issuer default rating to RD from C.

The rating on the $1.2bn eurobond on which the government defaulted was downgraded to D and withdrawn because of the issue/tranche default.

Fitch said it affirmed several long-term foreign-currency issue ratings at C and then withdrew them because the agency doesn’t consider them relevant to its coverage.

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