Rabat - The international rating agency Standard & Poor’s has maintained Morocco’s BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings, with a stable outlook.
"Morocco has faced strong headwinds since the financial and economic crisis and the Arab Spring, but in our view it has demonstrated resilience", the agency said in a statement, adding that "we have made no substantial changes to our assumptions since our last review, except for revising down our oil price forecasts by $10 per barrel".
The agency expects Morocco's economic growth to pick up as higher-value-added sectors increase output.
The stable outlook reflects the agency's expectation that the narrowing of the still-large fiscal and current account deficits will continue over the next few years, while economic growth will accelerate, the Washington-based agency underlines.