Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (8 lettori)

waltermasoni

Caribbean Trader
Rating Action:
Moody's changes outlook on Lebanon's rating to negative, affirms B3 rating

13 Dec 2018
New York, December 13, 2018 -- Moody's Investors Service ("Moody's") has today changed the outlook to negative from stable on the Government of Lebanon's issuer ratings and affirmed the ratings at B3.



The negative outlook reflects an increase in risks to the government's liquidity position and the country's financial stability, in large part as a consequence of domestic and geopolitical risks that have become more intractable. In particular, in the absence of fiscal consolidation measures that would allow the release of some international loans and partly reverse the widening in risk premia observed in recent months, Lebanon's fiscal metrics that have already been among the weakest of all the sovereigns rated by Moody's would weaken further, contributing to yet higher liquidity and financial stability risks.



The affirmation of the B3 rating reflects Moody's assumption that a government will be formed in the near term and will implement some fiscal consolidation that would unlock the CEDRE ("Conférence économique pour le développement, par les réformes et avec les entreprises") public investment package, which in turn would support GDP growth and ease liquidity risks. The rating affirmation also takes into account the central bank's demonstrated capacity to maintain a degree of financial stability despite very large macroeconomic imbalances and through times of political tensions, although the effectiveness of its financial operations may be diminishing.



Moody's has also affirmed Lebanon's (P)B3 senior unsecured Medium Term Note Program rating and its (P)Not Prime other short-term rating.



The foreign and local-currency bond and bank deposit ceilings remain unchanged. Specifically, the foreign-currency bond ceiling is unchanged at B1, the foreign-currency bank deposit ceiling is unchanged at B3, and the local-currency bond and deposit ceilings are unchanged at Ba2. The short-term foreign-currency bond and deposit ceilings are also unchanged at Not Prime.
 

zoro-aster

Forumer storico
dollaro oggi a bagno: 1,1285..........peró alcuni indovini da queste parti dicono che per l´estate prossima tornerá a 1,20. Sperimo che non indovinino:)
 

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