Monday 07, April 2008 by
Lebanese banks resist political deadlock at home and pursue overseas expansion
The ratings on Lebanon were lowered to 'CCC+/Stable/C' on Jan. 31, 2008, to reflect the current political impasse there. “The Lebanese government's high indebtedness, fiscal deficit, and fragile political stability pose a serious threat to any bank in the system,” said Standard & Poor's credit analyst Paul-Henri Pruvost.
