Jordan’s Sovereign Ratings Affirmed with a Stable Outlook Rating Action

Ref: JO20CRA00-02 4 December 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 Outlook reflects CI’s view that although the global spread of Covid-19 has led to a deteriorating growth environment and rising budgetary pressures, the sovereign’s credit profile remains adequately supported at the current rating level by the renewed commitment of external donors (particularly multilateral organi s ations) to provide financial assistance. In addition,…