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Lebanon dollar bonds slip after Moody's credit rating cut

Published: Updated:

Lebanon’s dollar-denominated sovereign bonds came under pressure on Tuesday after Moody’s cut the country’s credit rating to Caa1 on worries about a possible debt default.

The country’s 2037 bond fell 0.811 cents to trade at 73.568 cents in the dollar, according to Tradeweb data.

The bonds had made healthy gains on Monday when Qatar said it would invest $500 million in the country’s sovereign dollar bonds to support its struggling economy.