Jordan’s Ratings Affirmed; Outlook Remains Positive
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Summary
Ref: JO 2 3 CRA00-0 2 1 December 2023
Jordan’s Ratings Affirmed; Outlook Remains Positive
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 L T Local Currency Rating (LT LCR) at ‘ B+ ’ . 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 Positive.
Rating Drivers
The ratings reflect the government’s prudent macroeconomic policies and ongoing efforts to increase revenue mobilisation, which have led to gradually improving fiscal performance and declining general government debt. The ratings also take into consideration the availability of financial assistance from multilateral lenders and external donors – particularly the IMF and US – as well as adequate international liquidity, moderate external debt, and a relatively sound…