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Lebanon Bond Tumbles Most on Record Amid Fitch Warning

  • March 2020 bond fell by about 7 cents amid selling pressure
  • Rating company said Lebanon’s proposal reflects funding stress
A man sits inside a bank branch that was vandalized by anti-government protesters in Beirut on Jan. 16.
A man sits inside a bank branch that was vandalized by anti-government protesters in Beirut on Jan. 16.Photographer: Anwar Amro/AFP via Getty Images
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Lebanese Eurobonds maturing in March dropped the most on record as the threat of a downgrade to near default added to selling pressure.

The bond tumbled about 7 cents on Friday to 80 cents on the dollar, the biggest daily decline on record for the country’s 2020 notes and approaching a record-low reached in November.