Rating Outlook Lebanon Compared

22 August 2019, Bachir El Nakib

Lebanon - Credit Rating

Standard & Poor's credit rating for Lebanon stands at B- with negative outlook. Moody's credit rating for Lebanon was last set at Caa1 with stable outlook. Fitch's credit rating for Lebanon was last reported at B- with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Lebanon thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Lebanon as reported by major credit rating agencies.

Lebanon’s consumer price inflation declined to 1.45 percent year-on-year in July 2019 from 1.69 percent in the previous month. It was the lowest inflation rate since October 2016, as cost slowed for food and non-alcoholic beverages (0.63% vs 2.36% in June); housing & utilities (0.03% vs 0.10%); restaurants & hotels (1.23% vs 1.49%); recreation & culture (6.72% vs 7.10%), and alcoholic beverages & tobacco (0.54% vs 0.74%). Additionally, prices dropped further for health (-1.94% vs -1.30%) and communication (-0.65% vs -0.49%). Meantime, prices advanced at a faster pace for miscellaneous goods & services (2.39% vs 2.15%) and furnishings & household equipment (5.95% vs 5.42%) and inflation was steady for education (at 5.08%). Also, cost of transport fell less (-1.37% vs -1.54%). On a monthly basis, consumer prices decreased 0.33 percent, following a 0.84 percent fall in June. Inflation Rate in Lebanon averaged 2.68 percent from 2008 until 2019, reaching an all time high of 11.10 percent in October of 2012 and a record low of -4.67 percent in September of 2015.

The total population in Lebanon was estimated at 6.1 million people in 2017, according to the latest census figures. Looking back, in the year of 1960, Lebanon had a population of 1.8 million people.

This page includes the government debt credit rating for Lebanon as reported by major credit rating agencies.

Agency	Rating	Outlook	Date
S&P	B-	negative	Mar 01 2019
Moody's	Caa1	stable	Jan 21 2019
Fitch	B-	negative	Dec 18 2018
Moody's	B3	negative	Dec 13 2018
Moody's	B3	stable	Aug 25 2017
S&P	B-	stable	Sep 02 2016
Fitch	B-	stable	Jul 14 2016
S&P	B-	negative	Sep 11 2015
Moody's	B2	negative	Dec 16 2014
S&P	B-	stable	Apr 11 2014
Fitch	B	negative	Dec 19 2013
S&P	B-	negative	Nov 01 2013
Moody's	B1	negative	May 14 2013
S&P	B	negative	May 28 2012
Fitch	B	stable	Nov 21 2011
S&P	B	stable	Jan 18 2011
Moody's	B1	stable	Apr 13 2010
Fitch	B	stable	Mar 31 2010
S&P	B	positive	Dec 22 2009
Moody's	B2	positive	Dec 18 2009
Moody's	B2	stable	Apr 01 2009
Moody's	B3	positive	Dec 11 2008
S&P	B-	stable	Aug 05 2008
Moody's	B3	stable	Mar 25 2008
S&P	CCC+	stable	Jan 31 2008
Moody's	B3	negative	Nov 21 2006
S&P	B-	negative	Sep 11 2006
Fitch	B-	stable	Jul 14 2006
Fitch	B-	positive	Nov 18 2005
Moody's	B3	stable	Mar 24 2005
S&P	B-	stable	Oct 10 2003
S&P	B-	positive	Apr 24 2003
S&P	B-	stable	Dec 18 2002
S&P	B-	negative	Apr 10 2002
S&P	B	negative	Sep 28 2001
Fitch	B-	stable	Sep 21 2001
Moody's	B2	negative	Jul 30 2001
S&P	B+	negative	May 25 2001
Fitch	B+	stable	Feb 02 2001
Fitch	BB-	negative	Sep 21 2000
S&P	B+	stable	Sep 18 2000
Fitch	BB-	n/a	Jun 04 1998
Fitch	BB	negative watch	Feb 11 1998
S&P	BB-	negative	Feb 05 1998
Fitch	BB	n/a	Feb 26 1997
S&P	BB-	stable	Feb 26 1997
Moody's	B1	stable	Feb 26 1997

	S&P	Moody's	Fitch	DBRS	TE
Albania	B+	B1			35
Andorra	BBB		BBB+		62
Angola	B-	B3	B		26
Argentina	B-	B2	CCC	B	30
Armenia		B1	B+		35
Aruba	BBB+		BBB-		60
Australia	AAA	Aaa	AAA	AAA	100
Austria	AA+	Aa1	AA+	AAA	96
Azerbaijan	BB+	Ba2	BB+		50
Bahamas	BB+	Baa3			52
Bahrain	B+	B2	BB-		35
Bangladesh	BB-	Ba3	BB-		40
Barbados	SD	Caa1			15
Belarus	B	B3	B		26
Belgium	AA	Aa3	AA-	AA (high)	88
Belize	B-	B3			20
Benin	B+	B2	B		32
Bermuda	A+	A2	N/A		78
Bolivia	BB-	Ba3	BB-		40
Bosnia and Herzegovina	B	B3			27
Botswana	A-	A2			72
Brazil	BB-	Ba2	BB-	BB (low)	42
Bulgaria	BBB-	Baa2	BBB		58
Burkina Faso	B				25
Cambodia	N/A	B2			30
Cameroon	B	B2	B		30
Canada	AAA	Aaa	AAA	AAA	99
Cape Verde	B		B		30
Cayman Islands		Aa3			85
Chile	A+	A1	A	N/A	80
China	A+	A1	A+	A (high)	80
Colombia	BBB-	Baa2	BBB	BBB	58
Congo	CCC+	Caa1			20
Costa Rica	B+	B1	B+		38
Croatia	BBB-	Ba2	BBB-		50
Cuba		Caa2			15
Cyprus	BBB-	Ba2	BBB-	BBB (low)	50
Czech Republic	AA-	A1	AA-		81
Denmark	AAA	Aaa	AAA	AAA	100
Dominican Republic	BB-	Ba3	BB-		38
Ecuador	B-	B3	B-		25
Egypt	B	B2	B+		30
El Salvador	B-	B3	B-		23
Estonia	AA-	A1	AA-	AA (low)	81
Ethiopia	B	B1	B		31
European Union	AA	Aaa	AAA	AAA	98
Fiji	BB-	Ba3			35
Finland	AA+	Aa1	AA+	AA (high)	96
France	AA	Aa2	AA	AAA	92
Gabon	N/A	Caa1	B		26
Georgia	BB-	Ba2	BB		43
Germany	AAA	Aaa	AAA	AAA	100
Ghana	B	B3	B		26
Greece	B+	B1	BB-	BB (low)	35
Grenada	SD
Guatemala	BB-	Ba1	BB		45
Honduras	BB-	B1			35
Hong Kong	AA+	Aa2	AA+		95
Hungary	BBB	Baa3	BBB		56
Iceland	A	A3	A		73
India	BBB-	Baa2	BBB-	BBB	56
Indonesia	BBB	Baa2	BBB		58
Iraq	B-	Caa1	B-		25
Ireland	A+	A2	A+	A (high)	76
Isle of Man	N/A	Aa2			92
Israel	AA-	A1	A+		80
Italy	BBB	Baa3	BBB	BBB (high)	62
Ivory Coast		Ba3	B+		38
Jamaica	B	B3	B+		28
Japan	A+	A1	A	A (high)	77
Jordan	B+	B1	BB-		35
Kazakhstan	BBB-	Baa3	BBB		56
Kenya	B+	B2	B+		35
Kuwait	AA	Aa2	AA		90
Kyrgyzstan	NR	B2			30
Latvia	A	A3	A-	A (low)	71
Lebanon	B-	Caa1	B-		23
Lesotho			B		35
Liechtenstein	AAA				100
Lithuania	A	A3	A-	A	71
Luxembourg	AAA	Aaa	AAA	AAA	100
Macau		Aa3	AA		85
Macedonia	BB-		BB+		42
Malaysia	A-	A3	A-		66
Maldives		B2	B+		32
Malta	A-	A2	A+	A (high)	73
Mauritius		Baa1			65
Mexico	BBB+	A3	BBB	BBB (high)	65
Moldova		B3			25
Mongolia	B	B3	B		26
Montenegro	B+	B1			35
Montserrat	BBB-				55
Morocco	BBB-	Ba1	BBB-		53
Mozambique	SD	Caa3	RD		12
Namibia		Ba1	BB+		50
Netherlands	AAA	Aaa	AAA	AAA	100
New Zealand	AA	Aaa	AA		93
Nicaragua	B-	B2	B-		26
Nigeria	B	B2	B+		31
Norway	AAA	Aaa	AAA	AAA	99
Oman	BB	Ba1	BB+		48
Pakistan	B-	B3	B-		26
Panama	BBB+	Baa1	BBB		61
Papua New Guinea	B	B2			30
Paraguay	BB	Ba1	BB+		46
Peru	BBB+	A3	BBB+	N/A	65
Philippines	BBB+	Baa2	BBB		60
Poland	A-	A2	A-	A	71
Portugal	BBB	Baa3	BBB	BBB	58
Puerto Rico	D				0
Qatar	AA-	Aa3	AA-		85
Republic of the Congo	B-	Caa2	CCC		20
Romania	BBB-	Baa3	BBB-		55
Russia	BBB-	Baa3	BBB		55
Rwanda	B+	B2	B+		31
San Marino			BBB-		55
Saudi Arabia	A-	A1	A+		78
Senegal	B+	Ba3			37
Serbia	BB	Ba3	BB		41
Seychelles			BB		40
Singapore	AAA	Aaa	AAA	AAA	98
Slovakia	A+	A2	A+	A (high)	78
Slovenia	AA-	Baa1	A	A	73
Solomon Islands		B3			25
South Africa	BB	Baa3	BB+		50
South Korea	AA	Aa2	AA-		86
Spain	A-	Baa1	A-	A	68
Sri Lanka	B	B2	B		31
St Vincent and the Grenadines		B3			25
Suriname	B	B2	B-		28
Swaziland		B2
Sweden	AAA	Aaa	AAA	AAA	99
Switzerland	AAA	Aaa	AAA	AAA	100
Taiwan	AA-	Aa3	AA-		83
Tajikistan	B-	B3			25
Tanzania		B1
Thailand	BBB+	Baa1	BBB+		65
Togo	B
Trinidad and Tobago	BBB	Ba1			57
Tunisia	N/A	B2	B+		31
Turkey	B+	B1	BB-	BB (high)	38
Uganda	B	B2	B+		33
Ukraine	B-	Caa1	B-		21
United Arab Emirates	AA	Aa2	AA		90
United Kingdom	AA	Aa2	AA	AAA	92
United States	AA+	Aaa	AAA	AAA	98
Uruguay	BBB	Baa2	BBB-	BBB (low)	55
Uzbekistan	BB-	B1	BB-		40
Venezuela	SD	WR	RD		11
Vietnam	BB	Ba3	BB		43
Zambia	B-	Caa2	CCC		30

Export API

Ratings

TE	S&P	Moody's	Fitch	DBRS	Description
100	AAA	Aaa	AAA	AAA	Prime
95	AA+	Aa1	AA+	AA (high)	High grade
90	AA	Aa2	AA	AA
85	AA-	Aa3	AA-	AA (low)
80	A+	A1	A+	A (high)	Upper medium grade
75	A	A2	A	A
70	A-	A3	A-	A (low)
65	BBB+	Baa1	BBB+	BBB (high)	Lower medium grade
60	BBB	Baa2	BBB	BBB
55	BBB-	Baa3	BBB-	BBB (low)
50	BB+	Ba1	BB+	BB (high)	Non-investment grade speculative
45	BB	Ba2	BB	BB
40	BB-	Ba3	BB-	BB (low)
35	B+	B1	B+	B (high)	Highly speculative
30	B	B2	B	B
25	B-	B3	B-	B (low)
20	CCC+	Caa1	CCC	CCC (high)	Substantial risks
15	CCC	Caa2		CCC	Extremely speculative
10	CCC-	Caa3		CCC (low)	In default with little prospect for recovery
	CC	Ca		CC
5	C	C		C
0	D	/	DDD		In default
		/	DD	D
			D

Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com

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