Moody’s assigns B1 rating to Jordan Eurobonds

amman abdali
(File photo: Jordan News)
AMMAN Moody's credit rating agency has assigned a B1 rating to the Eurobonds recently issued by the Jordanian government, which are valued at $1.25 billion, Al-Saa News reported.اضافة اعلان

The agency indicated in a report that this rating reflects Jordan's long-term rating of B1 with a positive outlook.

According to the agency, Jordan's classification depends on strong and credible macroeconomic policy-making institutions, along with robust international support and access to significant domestic savings that contain liquidity. This is despite the challenges posed by government debt levels that are still high, structural stiffness that contributes to low economic growth and high unemployment rates, and the volatile geopolitical environment in the region.

The positive outlook reflects the government's strong commitment to wide-ranging structural reforms and a track record of effective implementation on the fiscal front, showing an ability to increase Jordan's credit flexibility, according to the agency.

In addition to the continuous growth of government revenues, which provide greater financial flexibility in the face of global inflation, Jordan’s latest set of economic and administrative reforms — the Economic Modernization Vision and the Public Sector Modernization Roadmap — may also increase the growth of the economy and its ability to absorb shocks overtime, the report said.

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