VOL. XLV

No 23

10-June-2002

LEBANON

Moody痴 Confirms Long-Term RatingsOf Blom, Byblos Bank

International ratings agency Moody痴 Investors Servicesaid on 29 May that it had confirmed the long-term foreign currency bondratings of Lebanese banks Blom and Byblos at B1 with a negative outlook. The confirmationfollows the announcement of Moody痴 new policy, which allows the ratings ofbonds and notes of some issuers to pierce their respective country ceilings.However, Moody痴 noted that foreign currency...