Fitch Ratings: Morocco’s outlooks on long-term IDRs are stable

Statistical rating organization Fitch Ratings has affirmed Morocco’s Long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘BBB-’ and ‘BBB’ respectively. The issue ratings on Morocco’s senior unsecured foreign and local currency bonds were also affirmed at ‘BBB-’ and ‘BBB’ respectively. The Outlooks on the Long-term IDRs are Stable, it said. The Country Ceiling was affirmed at ‘BBB’, and the Short-term foreign currency IDR at ‘F3′. The affirmation of Morocco’s ratings reflects its resilience during the years of transition following the Arab Spring in early 2011.