Capital Intelligence Lowers LebanonsLong-Term Rating
International rating agencyCapital Intelligence said on 30 April that it had lowered Lebanons sovereign long-term rating toB from B+. The short-term sovereign rating was affirmed at B. The downgradereflects concern over the governments ability to roll over the large increasein foreign currency debt falling due in 2003-05, given the precarious state ofthe public finances. While only one eurobondworth $118mn...