The agency attributed this to its belief that the restructuring or non-payment of the Lebanese government’s debt is almost certain regardless of timing.
S&P stressed that deep sectarian divisions in the Lebanese political system and severe security risks.
The agency expected political difficulties in paying the creditors' dues in 2020 due to the social unrest in Lebanon, the economic downturn and the intensification of pressures on liquidity in the private sector, and that external security risks remain high.
