Complex Made Simple

S&P cites high debt as factor in Lebanon downgrade

Credit ratings agency, Standard & Poor's has said that Lebanon's high public debt burden and large current account deficit were among the factors that prompted it to downgrade the country's outlook from 'stable' to 'negative' in May, The Daily Star has reported. "The ratings on the Republic of Lebanon are constrained by the country's high public debt burden, large current account imbalances, and the divisive political environment," S&P said.