Ratings on Lebanese Banks Lowered to 'SD' Following Adverse Changes in Deposit Terms & Conditions

Overview

Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has lowered the Long-Term Foreign Currency Ratings (LT FCR) of Bank Audi, BLOM Bank, Byblos Bank, Fransabank and Credit Libanais (hereinafter referred to as 'the Banks') to 'SD' (selective default) from 'C+'. At the same time, the Short-Term Foreign Currency Ratings (ST FCR) of the Banks have been lowered to 'SD' from 'C'.

Attachments

• Ratings Update on Lebanese Banks (CRA)
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