Jordan’s Sovereign Ratings Affirmed with a Stable Outlook

Ref: JO21SOV00-01 11 June 20 2 1

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 Outlook reflects CI’s view that the sovereign’s credit profile is adequately supported at the current rating level by the renewed commitment of external donors (particularly IMF and US) to provide financial assistance. However, we expect economic growth to rebound only gradually from the Covid-19 shock, and budgetary and external pressures to remain elevated over the…