Morocco’s sovereign credit rating outlook reviewed by Standard and Poor’s

American financial services company Standard and Poor’s revised on Friday, 5th of October, Morocco’s sovereign credit rating outlook from stable to negative, says French-language online newspaper Le Boursier.

The bad news suggests that Morocco might drop its current rating «BBB-» in the next 24 months it doesn’t improve its economic and financial situation, adds the same source.

The S&P review shows that Morocco is «significantly deviating from its 2018 target of 3.0%, posting a budget deficit of about 3.8% of GDP», reports Trading Economics.

The news might affect financial players in the country, including public institutions, companies and banks.

Standards and Poor’s also expects Morocco GDP growth to move from 3.2% to 4% between 2019 and 2020.