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Prices of Eurobonds stay put despite Fitch downgrade

Prices of Lebanon’s sovereign Eurobonds were unchanged Monday despite Fitch downgrading the country’s Long-Term Foreign-Currency Issuer Default Rating to CCC from B-, bankers and brokers said Monday. “There have been no changes in the prices of dollar-denominated Eurobonds so far. The banks already discounted the downgrade even before it happened when they raised the capital adequacy ratio and solvency ratios thanks to BDL’s recent financial engineering,” one banker told The Daily Star.
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