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Moody's puts 3 Lebanese banks' ratings under review for downgrade

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Moody's puts 3 Lebanese banks' ratings under review for downgrade

Moody's on Oct. 3 placed Lebanon-based Bank Audi SAL, Byblos Bank SAL and BLOM BANK SAL's Caa1 deposit ratings under review for downgrade, following a similar action on the sovereign.

The rating agency also placed on review for downgrade the three lenders' "caa1" baseline and adjusted baseline credit assessments, B3 counterparty risk ratings and B3(cr) counterparty risk assessments.

Moody's said the rating action reflects the high interlinkages between their balance sheets and credit risk on Lebanon.

The rating agency also affirmed the three banks' Not Prime short-term deposit ratings and counterparty risk ratings and Not Prime(cr) short-term counterparty risk assessments.