Standard & Poor’s has raised its outlook for Lebanon-based Bank Audi, BankMed and BLOM Bank to ‘Stable’ from ‘Negative,’ just a week after upgrading the outlook of Lebanon from ‘Negative’ to ‘Stable,” The Daily Star has reported. The international rating agency attributed the revision to the ability of Lebanese lenders to finance the public debt, thanks to the steady flow of deposits the lenders receive each year. “At the same time, we affirmed our ‘B-’ long-term counterparty credit ratings on all three banks. We also affirmed our short-term counterparty credit ratings on Bank Audi and BankMed at ‘C,’” S&P said.
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