Fitch ups Lebanon view to positive

Fitch Ratings said it has changed the Republic of Lebanon's outlook to positive from stable.

Fitch also said the long-term foreign and local currency ratings are affirmed at B- and the short-term foreign currency rating is affirmed at B.

Fitch said the assassination of former prime minister Rafik Hariri last February has proved to be a political watershed.

Although the new political environment presents risks and new challenges, on balance Fitch said it believes it more likely than not that a program of economic, structural and political reforms will gain domestic approval and attract the support of international donors in the coming weeks and months.

Fitch said the new government has acted to stem the damage to public finances following the slump in economic activity in the spring.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.