S&P puts three Lebanon banks on negative watch

S&P said it placed the ratings for three Lebanon-based banks on CreditWatch with negative implications after placing Lebanon’s sovereign rating on CreditWatch with negative implications.

The banks are Bank Audi sal, Blom Bank sal and Bankmed sal.

“The Lebanon CreditWatch placement reflects our view that declining foreign currency inflows could exacerbate fiscal and monetary pressures while limiting the government's response to pressing societal demands. The uncertainty of near-term policy outcomes could further test depositor confidence and weigh on foreign exchange reserves,” said S&P in a press release.

© 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.