Lebanese Five Pounds

MUMBAI (Thomson Financial) - Moody's Investors Service changed the outlook on Lebanon's ratings to stable from negative, citing the 'impressive resilience' of Lebanon's public finances in the face of numerous political shocks since Nov 2006.

'In fact, the health of the country's public finances has improved modestly during this period and the government's short-term funding needs are manageable,' the agency said.

The change of outlook applies to the government's 'B3' local and foreign currency bond ratings, the 'B3' country ceiling for foreign currency bank deposits and the 'B2' country ceiling for foreign currency bonds.

Moody's (nyse: MCO - news - people ) believes that Lebanon's sovereign ratings can withstand severe political volatility at their current low level.

TFN.newsdesk@thomson.com