Jordan’s Ratings Affirmed with a Stable Outlook
Content is restricted
Summary
Ref: JO 2 2 CRA00-0 1 10 June 2022
Jordan ’s Ratings Affirmed with a Stable Outlook
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 Long-Term Local Currency Rating (LT LCR) at ‘B+’ . At the same time, the sovereign’s Short-Term Foreign Currency Rating (ST FCR) and Short-Term Local Currency Rating (ST LCR) have been affirmed at ‘B’. T he Outlook for the ratings remains Stable .
Rating Drivers
The affirmation of Jordan’s ratings and outlook balances ongoing credit challenges associated with the country’s fiscal and external vulnerabilities against the availability of substantial financial assistance from external donors – particularly the IMF and US . The ratings are also supported by increasing foreign exchange reserves at the central bank, the relative soundness of the banking system , and a projected…