World Economy

Jordan ‘BB-/B’ Ratings Affirmed

Jordan ‘BB-/B’ Ratings AffirmedJordan ‘BB-/B’ Ratings Affirmed

Standard & Poor’s Ratings Services affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Hashemite kingdom of Jordan at ‘BB-/B’. The outlook is stable, Business Intelligence Middle East reported. Significant regional instability related to the ongoing conflict in Syria and Iraq continues to affect Jordan’s key credit metrics, and we expect economic growth to be 3% in 2015. Despite these pressures, Jordan has made progress on consolidating its public finances and the low oil price environment should support its fiscal and external performance going forward. Since the last review, on April 24, 2015, significant disruption to key export routes has hampered Jordan’s transportation sector and consequently weighed on growth, it said.