‘S&P’ Outlook On Jordan Revised To Negative; 'BB-/B' Ratings Affirmed

تم نشره في Wed 27 April / Apr 2016. 12:00 AM
  • S&P headquarters

AMMAN —Al Ghad— The Standard and Poor Ratings Services (S&P) revised report on the outlook on Jordan’s long-term rating came out ‘negative’ Friday, 22nd of April, from ‘stable’, while at the same time, affirming the long- and short-term foreign and local currency sovereign credit ratings at 'BB-/B'.

Elaborately, the report explains that Jordan faces an extremely difficult external environment, which is dragging on growth prospects and complicating structural fiscal consolidation efforts, and that Jordan's government debt burden remains high, which leaves little room for manoeuvre should the country face further shocks, stating that external support for Jordan is expected to remain strong, but that reliance upon such assistance will continue to increase, and therefore that lower growth prospects may hamper efforts to reduce structural fiscal imbalances.