Fitch Ratings upgraded Byblos Bank S.A.L.'s Long-term Issuer Default Ratings (IDRs) to 'B' from 'B-' with a 'stable' outlook. It also affirmed the Bank's Short-term foreign currency IDR at 'B', the Individual Rating at 'D', the Support Rating at '5', and the Support Rating Floor at 'CCC'.
Moody's Investors Service upgraded Byblos Bank's long-term foreign currency deposit ratings to 'B1' from 'B2' and Byblos Bank's senior unsecured debt rating to 'Ba3' from 'B1'. It added that Byblos Bank's 'Ba3' subordinated debt rating is not constrained at Lebanon's 'B1' sovereign debt ceiling. It also changed the outlook on all the ratings to 'positive' from 'stable'.