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Fitch affirms Lebanon at ‘B’ with stable outlook

Fitch Ratings has affirmed Lebanon's long-term foreign and local currency Issuer Default Ratings, short-term foreign currency IDR, and the Country Ceiling at "B," with 'Stable' outlook, The Daily Star has reported. The agency said its affirmation reflects Lebanon's substantial and rising foreign exchange reserves, lower debt levels, and reduced interest costs, relative to the previous decade, mitigate the downside risks to political stability, growth and public finances in 2012.