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S&P Retains Jordan Rating

S&P Retains Jordan RatingS&P Retains Jordan Rating

Standard & Poor’s reaffirmed its BB-/B credit rating to Jordan, with a “negative” outlook due to a number of domestic and regional factors, Petra News Agency reported. Jordan was placed in the Banking Industry Country Risk Assessment’s 7th group, along with Bulgaria, El Salvador, Indonesia, Morocco, the Philippines, Portugal and Slovenia. The report cited “very high” economic resilience and credit risk in Jordan, with “intermediate” economic imbalances, while the industrial factors were described of “high” institutional framework, competitive dynamics and system-wide funding. “Despite low growth, we anticipate that the Jordanian authorities will continue to contain fiscal and external balances in 2017-2020, assisted by an International Monetary Fund program,” according to S&P.

 

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