Moody's moves Morocco outlook to stable

Moody's Investors Service said it changed the outlook on the government of Morocco to stable from negative and affirmed its long-term issuer and senior unsecured ratings at Ba1.

“The outlook change to stable reflects the recovery in real GDP to pre-pandemic levels and the government of Morocco's crisis management capacity demonstrated during the pandemic. The improved governance track record underpins Moody's expectation that the government will be able to implement gradual fiscal consolidation that stabilizes the debt ratio and fiscal accounts, while maintaining social stability in the face of Morocco's exposure to the food and energy price shock triggered by Russia's invasion of Ukraine,” the agency said in a press release.

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