Moody's takes rating actions on four Lebanese banks
Moody's has downgraded to Ba3 from Ba2 the long-term global local currency (GLC) deposit ratings of Bank Audi, BLOM Bank and Byblos Bank. In addition, the outlook on foreign currency deposit ratings of Bank Audi, BLOM Bank, Byblos Bank and Bank of Beirut has been changed to positive from stable. The outlook on Byblos Bank's senior unsecured debt rating has also been changed to positive from stable. Details on the rating actions and their rationale are provided below.