Property In Morocco News. Morocco’s foreign currency debt has been raised to “Investment Grade” by Standard & Poor’s Ratings Services. Standard & Poor’s has thus raised its long-term foreign currency sovereign credit rating on Morocco to ‘BBB-’ from ‘BB+’, and its long-term local currency sovereign credit rating to ‘BBB+’ from ‘BBB’.
Standard & Poor’s also raised its short-term foreign currency sovereign credit rating on Morocco to ‘A-3′ from ‘B’ and its short-term local currency sovereign credit rating to ‘A-2′ from A-3′. It has also raised its transfer and convertibility assessment for Morocco to ‘BBB+’ from ‘BBB’.
In a press release, the Moroccan finance ministry has described this move as a “quantum leap”, which is a result of the reforms undertaken by the kingdom and macro-economic stability of the country.
Posted by Robert Shaw
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