Fitch Ratings has affirmed Morocco's long-term foreign-currency issuer default rating at BB+ with a stable outlook, according to an announcement by the agency. The rating remains one notch below investment grade.
The affirmation reflects Morocco's track record of macroeconomic stability and its gradual fiscal consolidation, supported by steady revenue growth and expenditure control. Fitch also noted the country's access to external financing and its resilient economy.
Morocco's economy has shown resilience in recent years, with growth supported by domestic demand and key sectors such as tourism and manufacturing. The government has committed to reducing the budget deficit and public debt as a share of GDP over the medium term.
The stable outlook indicates that Fitch does not expect a change in the rating in the near term. The agency's assessment is closely watched by international investors and can influence borrowing costs.
