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FinancialNews
16-06-19
Fitch sets BB- as Jordanian long-term credit rating
(MENAFN) Jordan is witnessing a stable view as rating agency Fitch set BB- as the Kingdom's long-term foreign-currency issuer default rating.
Fitch attributed this rating to the Jordanian track record of fiscal and economic reforms while the Kingdom enjoys improved conditions.
According to Fitch, "Jordan has built up a track record of reforms that have substantially reduced the budget deficit and stabilised government debt to gross domestic product (GDP) after being hit by multiple shocks and a slowdown in economic growth since 2011."
It further added that Jordan has access to local and foreign financing connected to the liquid bank sector, spurring positive outlook alongside the increasing public pension fund and foreign funds.
MENAFN1606201900450000ID1098642626
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