VOL. XLV

No 25

24-June-2002

LEBANON

Capital Intelligence DowngradesLebanese Banks

Internationalrating agency Capital Intelligence (CI) announced on 19 June that it hasdowngraded the foreign currency ratings of eight Lebanese commercial banksfollowing its latest review of the countrys banking system. While the overallfinancial condition of the rated banks is satisfactory, their long-term foreigncurrency rating was lowered in line with Lebanonssovereign downgrade to B from B+ (MEES,6 May). Lebanons...