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Lebanon’s banks weak but safe, says Fitch According to Fitch Ratings, Lebanon’s banks have a paradoxically low level of strength and low level of vulnerability. In their newest ratings release, Fitch has given Lebanese banks a banking system indicator rating of “D” indicating “low strength.” Egypt, Tunisia, Morocco, Benin and Nigeria also carry the same rating, which is intended to assess the quality of a country’s banking sector. In the emerging markets category, 75 percent of banking systems were given a rating of “C” or “D”, while 25 percent received an “E” rating, according to Fitch. Conversely, on Fitch’s Macro-Prudential Indicator, Lebanese banks received a rating of “1,” the best possible, indicating a “low level of potential vulnerability.” Benin, Egypt and Tunisia were also given this rating. Thirteen of the 86 countries assessed were, like Lebanon, rated with “low strength,” but also a “low level of potential vulnerability.” These countries