Fitch rates Morocco bond BBB-

Fitch Ratings said it assigned a BBB- rating to Morocco's $750 million tap of its dollar-denominated bond issued in December 2012.

The tap comprises $500 million of 10-year notes with a coupon of 4¼% and spread at issue of 220 basis points over U.S. treasuries and $250 million of 30-year notes with a 5½% coupon and spread at issue of 237.5 bp over U.S. treasuries.

The tap brings the total outstanding size of the issue to $2.25 billion.

The rating is in line with Morocco's BBB- long-term foreign-currency issuer default rating. The outlook is stable.

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