First Independent Mena Newspaper
The degradation of Morocco’s credit rating by Fitch on the eve of a Moroccan issuance of an international bond is unprofessional and unethical, said central bank governor Abdellatif Jouahri. Fitch has recently downgraded Morocco’s credit rating from investment grade to junk ahead of an international bond worth 3 billion dollars sold by Morocco earlier this […]
Fitch Ratings has revised its outlook on Moroccan banks Attijariwafa Bank, Bank of Africa, and Credit Immobilier et Hotelier (CIH) to Negative from Stable, while affirming the three banks’ Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) at ‘BB+’. This comes after Fitch’s revision of the outlook on Morocco’s sovereign rating to Negative from Stable on […]
Pressure exerted on Morocco’s current account deficit (CAD) and external finances have increased significantly due to the COVID-19 pandemic global shock, Fitch Ratings says. However, the North African country has buffers to manage increased pressures, including recently displayed willingness to adjust the flexibility of the exchange rate regime, adds the international rating agency. Disruptions to […]
Fitch Ratings has assigned “Excellent” score to the Moroccan fund CDG Capital Gestion, with a stable outlook. This top rating has been awarded to the fund due to its broad stability and its best investment resources organization. According to Fitch analysts, the “Excellent” mark of CDG Capital Gestion is driven by “its highly disciplined investment […]
Fitch Ratings has affirmed Morocco’s long-term foreign-currency Issuer Default Rating (IDR) at ‘BBB-‘ with a stable outlook, praising the country’s macroeconomic stability, its comfortable external buffers and low share of foreign-currency debt in public debt. The credit rating agency projects Morocco’s deficit at 3.7 pc of GDP in 2019 and 3.5 pc in 2020, saying […]
Fitch Ratings gave Morocco ‘BBB-‘ rating with a stable outlook due to the country’s macroeconomic stability, comfortable external buffers and a low share of foreign-currency debt in public debt. The Moroccan government has prioritized social policies in the 2019 budget, said Fitch in a press release, noting that the country is planning an overhaul of […]
Capital markets are reasonably deep and well developed in Morocco wherein institutional investors buy long-term senior and subordinated bonds issued by Moroccan banks, says Fitch Ratings in its latest report on Moroccan retail housing finance market. The introduction of a covered bonds market in Morocco would support continued strong growth of retail mortgage lending, adds […]
Islamic banking products in Morocco could expand their deposit bases by 5 to 10 pc, says Fitch Ratings, noting that the ability to grow the deposit base is positive for Morocco’s economic development because deposits represent about 70% of banking sector funding. “We expect growth of participation banks in Morocco will be high initially, as […]
Credit rating agency, Fitch, affirmed Morocco’s long-term foreign and local currency issuer default ratings (IDRs) at ‘BBB’ with a Stable Outlook. Fitch explained that Morocco’s BBB rating was driven by its economic performance, public finance and external finance metrics. “Economic policy focuses on maintaining macroeconomic stability and is unlikely to change much as a result […]
International credit rating agency, Fitch Ratings, highlighted Morocco’s stable and predictable economic policies, which are propitious for attracting investments and improving public finances by boosting growth and narrowing the budget deficit while withering external financial shocks. “GDP growth will recover to above 3% in 2017,” Fitch Ratings said in an analysis on its website in […]