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Morocco: Return to Investment Grade Redefines Capital Market Outlook


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🚀 Standard & Poor’s has upgraded Morocco’s sovereign rating to BBB-/A-3, restoring its coveted Investment Grade status. This marks a major turning point, validating fiscal consolidation and monetary discipline while reinforcing macroeconomic fundamentals.


• Debt Markets: The Treasury gains broader access to international investors, enabling cheaper sovereign funding and reduced reliance on the domestic market.


• Corporates: Banks and OCP could see upgrades to their own ratings, lowering funding costs and expanding investor bases.


• Equities: Lower sovereign spreads reduce discount rates, boosting equity valuations and enhancing Casablanca’s market appeal.


• Flows: The upgrade makes Morocco eligible again for global portfolios restricted to Investment Grade, improving liquidity and strengthening the case for MSCI EM re-entry.


• Confidence: The decision sends a strong signal to creditors and institutional investors, bolstering long-term visibility and trust in Morocco’s capital markets







 
 
 

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