Fitch rates Morocco bond BBB-

Fitch Ratings said it assigned the Kingdom of Morocco's (BBB-/F1+/stable) upcoming 10-year eurobond issue a long-term BBB- rating. The issue will amount to a minimum of €500 million.

Despite adverse economic conditions in the European Union, the Moroccan economy grew by 4.9% in 2009, according to the agency.

The stability of the political system is a key credit strength for Morocco, the agency added.

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