S&P affirms Jordan

Standard & Poor's said it affirmed its BB foreign and BBB local currency long-term sovereign credit ratings on the Hashemite Kingdom of Jordan.

At the same time, S&P said it affirmed its B foreign and A-3 local currency short-term sovereign ratings and its BBB- transfer and convertibility assessment.

The outlook is stable.

The agency said that the affirmation reflects its view that the current economic challenges facing Jordan -fiscal and external deficits and rising inflation - are well managed by prudent government policies.

The ratings on the Kingdom continue to be constrained by a high government debt burden, below-par external liquidity, and regional security concerns, which are partly balanced by good economic prospects and solid direct investment inflows and high official transfer receipts, the agency said.

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