Factsheets Back
31 . 03 . 2018
Market Overview


In March, Lebanese Government Eurobonds’ offer prices gained around USD 2 across the curve. S&P affirmed Lebanon’s B- rating and stable outlook. Lebanon 5 and 10 year CDS prices were mainly flat at around 450 and 500 levels respectively. The Lebanese finance minister forecasted lower budget deficit for 2018; while the Central Bank governor stated that the bank will increase foreign currency reserves to boost confidence in the Lira. In the GCC region, 5 years CDS levels remained mostly stable with the exception of Bahrain which had a 30 bps rise, after Fitch downgraded its credit rating to BB-/Stable outlook citing “no clear strategy to tackle high deficits”. Moody’s downgraded Oman’s rating to Baa3/Negative outlook citing weak fiscal and internal metrics to cope with lower oil prices.