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

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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.

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