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FINANCIAL NEWS
Morocco’s outlook revised to negative: S&P
12 Oct 2012
(MENAFN) Standard & Poor’s stated that it has revised down its outlook for Morocco to negative from stable, however, keeping the BBB- credit rating, reported Arab News.
The rating agency attributed the change in its outlook to Europe’s financial crisis, the growing deficit and slow reforms.
It said that the country’s ratings would stabilize at the current levels in case the government managed to lessen deficits and reduce external debt ratios, in addition to keeping political and social stability.
It is worth noting that in August, Morocco asked for the International Monetary Fund’s (IMF) help, getting a USD6.2 billion precautionary credit line.
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