Lebanon’s outlook raised to ‘Stable’

April 14, 2014 1:20 am

Standard & Poor’s has raised to ‘stable’ its outlook for Lebanon, citing the country’ steady financial system and deposit inflows, but reaffirmed its B-/B long- and short-term foreign and local currency sovereign credit ratings, Reuters has reported. This comes after politicians ended a year of deadlock in March and agreed on the formation of a new government led by Prime Minister Tammam Salam. Lebanon’s finance minister Ali Hassan Khalil welcomed the revised outlook as a “positive indicator” for Lebanon. “The government intends to carry out a package of measures to promote confidence and maintain progress,” he told the news service.