Friday, March 28, 2008

Moody's changes outlook on Lebanese banks' ratings to stable from negative.

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Moody's changes outlook on Lebanese banks' ratings to stable from negative. Moody's Investors Service changed the outlook on the B3/Not Prime foreign currency (FC) deposit ratings of the four rated Lebanese banks (Bank Audi, BLOM Bank, Byblos Bank and Bank of Beirut) to stable from negative, the company said in a statement. The rated banks' deposits and their government-securities investments grew but their risk profiles rose as well, considering the low ratings of Lebanon mainly because of its political impasse. Banks outside Lebanon may benefit from future rating upgrades; however the low rated B3 Lebanese sovereign debt might constrain that.

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Moody's changes outlook on Lebanese banks' ratings to stable from negative.

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