Lebanon Speaker Has “Positive" Feeling on Credit Rating

Lebanese Parliament Speaker Nabih Berri said he had a “positive” feeling over a sovereign credit rating report expected later this week, although he had no information about it, Lebanese newspaper al-Joumhouria reported on Wednesday, Reuters reported. Lebanon, saddled with one of the world’s heaviest public debt burdens and blighted by years of low economic growth, is seeking to put its public finances on a sustainable path by implementing long-delayed economic reforms. However, markets have been pricing in the risk of a sovereign credit rating downgrade in recent days. S&P is due to publish its review of Lebanon on Friday. Fitch Ratings is also expected to release a report soon, though it has not said when. An S&P spokeswoman said it does not comment on future ratings actions. Read more

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