Jordan – Ratings Affirmed with a Stable Outlook

28 November 2025

Rating Action

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Jordan’s Long-Term Foreign Currency Rating (LT FCR) and LT Local Currency Rating (LT LCR) at ‘BB-’. At the same time, CI Ratings has affirmed the sovereign’s Short-Term (ST) FCR and ST LCR at ‘B’. The Outlook on the ratings remains Stable.

Rating Drivers

The ratings reflect the sovereign’s capacity to withstand external shocks, as demonstrated by the resilience of the Jordanian economy and improving foreign reserve buffer, despite the challenging geopolitical landscape. The ratings continue to be supported by low-to-moderate external debt and a relatively sound banking sector. The ratings also take into consideration the availability of external financing in the form of bilateral and multilateral loans from the World Bank and the IMF, as well as donor support from the EU.

The ratings are constrained by high geopolitical risk factors,…