Deviation from Schedule

10 April 2017
INFORMATION NOTICE

Deviation from Sovereign Ratings Publication Calendar

This information notice is made in accordance with Article 8a(4) of the European Union (EU) regulation on credit rating agencies which requires rating agencies to publish an explanation of the reasons for any deviations from their announced calendar for sovereign credit ratings.

Capital Intelligence Ratings (CI Ratings) deviated from its publications calendar on April 7 when it revised the outlook on Lebanon's sovereign issuer credit ratings to stable from negative. The review had been scheduled for completion on April 28 (in accordance with the calendar) but was brought forward as part of the process of assigning issue ratings to a triple-tranche eurobond issued by the Lebanese Republic on March 23. In the opinion of the rating committee, changes in the credit quality of Lebanon since the completion of the previous review on 21 October, 2016 warranted a revision in the outlook.

Credit rating announcements containing the rating rationales for the issuer and issue ratings are available in the newsroom section of CI Ratings’ website.

The next rating publication on Lebanon will be 20 October 2017.