Jordan’s Sovereign Ratings Affirmed with a Stable Outlook

Ref: JO20CRA00-01 12 th June 20 20

Jordan’s Sovereign 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 FC R ) and Long-Term Local Currency Rating (LT LC R ) at ‘B+’. At the same time, t he sovereign’s Short-Term Foreign Currency Rating (ST FC R ) and Short-Term Local Currency Rating (ST LC R ) have been affirmed at ‘B’. The Outlook for the ratings remains Stable.

RATING RATIONALE

The affirmation of the ratings and O utlook reflect s CI’s view that while the global spread of Coronavirus ( Covid-19 ) has weaken ed the prognosis for the country’s econom y and public and external finances, the sovereign’s credit profile remains adequately supported at the current rating level by financial assistance from external donors (particularly multilateral organizations), which has been…