S&P revises Morocco view to negative

S&P said it revised its outlook on Morocco to negative from stable and affirmed the long- and short-term foreign and local currency sovereign credit ratings at BBB-/A-3.

“The negative outlook signifies that we could lower our ratings on Morocco within the next 24 months if the government fails to improve its budgetary position, pushing net government debt levels beyond our forecasts; if real GDP growth rates materially undershoot our expectations; or if external imbalances widen further, causing a substantial increase in the economy's gross financing needs,” S&P said in a news release.

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