Jordan’s Sovereign Ratings Affirmed with a Stable Outlook

Ref: JO19CRA00-2 29 th November 201 9

Jordan ’s Sovereign Ratings Affirmed with a Stable Outlook

RATING ACTION

Capital Intelligence Ratings (CI Ratings or CI ) , the international credit rating agency, today announced that it has affirmed Jordan’s Long-Term Foreign Currency Rating (LT FC R ) and Long-Term Local Currency Rating (LT LC R ) at ‘ B +’. The sovereign’s Short-Term Foreign Currency Rating (ST FC R ) and Short-Term Local Currency Rating (ST LC R ) have also been affirmed at ‘ B ’. The Outlook for the ratings remains Stable.

RATING RATIONALE

The ratings are constrained by the high level of government debt, sluggish economic growth prospects, significant socioeconomic challenges (including high unemployment) , a nd moderate-to-high policy risk. The ratings remain supported by the moderately high likelihood of support from external donors , adequate foreign reserves and a manageable (though increasing) net…