Lebanon: Syria crisis, S&P lowers state debt prospect

29 May, 12:31

(ANSAmed) - BEIRUT, MAY 29 - The ratings agency Standard and Poor's has lowered its prospects for Lebanon's long-term sovereign debt from "stable" to "negative" amid fears of repercussions from the Syrian crisis.

The stability of the Beirut government and the pegging of the Lebanese pound to the dollar could be endangered if violence in the neighbouring country fuel further tension in Lebanon, says a report by S&P, which was quoted today in the Lebanese press.

Groups of supporters and opponents of the Syrian regime have clashed in recent weeks in the streets of Beirut and Tripoli, in the north of the country. At least two people have died in the capital, with around ten killed in Tripoli.(ANSAmed).

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