Standard & Poor's Maintains Morocco's BBB-/A-3, Outlook Stable
Rabat - The international rating agency Standard & Poor's has maintained Morocco's BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Morocco, with a stable outlook.
"Morocco has faced strong headwinds since the financial and economic crisis and the Arab Spring, but in our view it has demonstrated resilience", the agency said in a statement, adding that "we have made no substantial changes to our assumptions since our last review, except for revising down our oil price forecasts by ê10 per barrel".
The agency expects Morocco's economic growth to pick up as higher-value-added sectors increase output.
The stable outlook reflects the agency's expectation that the narrowing of the still-large fiscal and current account deficits will continue over the next few years, while economic growth will accelerate, the New York-based agency underlines.
"Morocco has faced strong headwinds since the financial and economic crisis and the Arab Spring, but in our view it has demonstrated resilience", the agency said in a statement, adding that "we have made no substantial changes to our assumptions since our last review, except for revising down our oil price forecasts by ê10 per barrel".
The agency expects Morocco's economic growth to pick up as higher-value-added sectors increase output.
The stable outlook reflects the agency's expectation that the narrowing of the still-large fiscal and current account deficits will continue over the next few years, while economic growth will accelerate, the New York-based agency underlines.
Source : https://www.emouaten.com/english/Standard-Poor-s-M...