Ratings agency S&P blames “ongoing political uncertainty” for the Lebanese central bank’s “unusual and unsustainable financing engineering.” In a 31 August ratings update, S&P re-affirms Lebanon’s long-term sovereign rating at B- with stable outlook, six notches below investment grade.
“The general government debt burden will continue to rise from already high levels through 2021,” S&P says, forecasting end-2018 net public debt of 142% of GDP up from 137% at end-2017. (CONTINUED - 187 WORDS)