New York- The rating agency Standard & Poor’s has confirmed the sovereign rating assigned to Morocco at BBB with ” negative outlook,” a note that is below that assigned by Fitch Ratings, which had confirmed a stable outlook on November 5th, according to MAP.
Despite a difficult international context prompting rating agencies to carry out a series of sovereign ratings downgrade , Morocco preserves its prestigious status of ” investment grade ” according to the agency, which, however, remains vigilant while welcoming the importance of reforms undertaken by the Kingdom, the same source reported.
Unlike Fitch, Standard & Poor’s does not seem to valued the preservation of political stability in a regional context marked by instability and turmoil, and the important steps taken by the Moroccan authorities to reduce the twin deficits, namely the budget deficit and the current account deficit.
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