Issue Ratings on Lebanon’s Eurobonds Lowered to ‘D’; All Ratings Subsequently Withdrawn

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the foreign currency issue ratings assigned to Lebanon's eurobonds to 'D' (default) from 'CC'. The eurobonds were issued in three tranches: USD1.25bn due in 2027, USD1bn due in 2032, and USD0.75bn due in 2037. At the same time, CI Ratings has withdrawn the ratings since they are no longer relevant following the payment default and given the government's intention to restructure its eurobonds.

Attachments

• Rating Announcement (CRA)
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