Jordan – Outlook Revised to Positive; Ratings Affirmed Rating Action
Content is restricted
Summary
Ref: JO 2 2 CRA00-0 2 2 December 2022
Jordan – Outlook Revised to Positive; Ratings Affirmed Rating Action
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Jordan’s Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) to Positive from Stable. At the same time, CI Ratings has affirmed the sovereign’s LT FCR and LT LCR at ‘B + ’ , and Short-Term (ST) FCR and ST LCR at ‘B’.
Rating Drivers
The revision of the outlook reflects ongoing efforts to increase revenue mobilisation and improve the budget structure , which should facilitate better fiscal performance over the medium term and help reduc e the country’s dependence on foreign assistance . The positive outlook also takes into account the authorities’ track record of generally sound fiscal and monetary policy, which has helped to support macroeconomic stability despite a challenging…