Fitch cuts Lebanon view to stable

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

At the same time, the foreign and local currency issuer default ratings are affirmed at B- and the short-term foreign currency rating is affirmed at B.

Fitch said recent attacks on Lebanon's infrastructure will hurt economic activity and especially tourism. Tax revenues will suffer, public debt dynamics could take a turn for the worse and the political focus will once again be diverted away from long overdue economic reforms.

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