No. 27



Fitch IBCA Downgrades Banque Audi And Byblos Bank

On 29 June, the ratings agency Fitch IBCA downgraded the individual ratings of BanqueAudi and Byblos Bank. Banque Audi, previously rated B, was downgraded to B/C and ByblosBank, previously rated B/C, was downgraded to C. This follows a prior lowering of thebanks' long-term ratings from BB to BB- to reflect a corresponding change in the agency'ssovereign rating. At the same time, the agency affirmed in a...