VOL. XLVI

No 42

20-October-2003

LEBANON

RATINGS

S&P Revises Outlook On Lebanons B-/C Ratings To Stable

Ratings agency Standard & Poors (S&P) on 10 October revised its outlook on Lebanon to stable from positive, but affirmed its sovereign B- long-term and C short-term ratings. The outlook revision reflects our view that the draft budget for 2004 implies a postponement in fiscal consolidation and hence delays the envisaged reduction in the governments debt burden, said S&Ps credit...