Economics

Lebanon Is Now Rated as Low as Venezuela After Moody’s Cut

Moody’s downgrades nation’s credit score to the lowest level
Lebanon has defaulted on debt amid a crippling crisis

Demonstrators set an upturned garbage can alight as part of a road block during an anti-government protest in Beirut on July 1.Photographer: Hasan Shaaban/Bloomberg

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By Alaa Shahine

July 27, 2020 at 4:48 PM UTC

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Lebanon had its rating cut to the lowest grade by Moody’s Investors Service, which said that bond investors will likely suffer major losses on their holdings as the government struggles to secure aid to ease a crippling financial crisis.