S&P’s upgrade to Investment Grade sets Casablanca on course for renewed foreign inflows and a bullish market cycle

📈 Market Commentary – Casablanca Stock Exchange

Next week is shaping up to be decisive for Casablanca’s equity market. According to Bourse News, Standard & Poor’s has upgraded Morocco’s sovereign credit rating, restoring the country’s Investment Grade status.

This marks a turning point: Morocco has improved its risk profile and regained broader access to international financing on more favorable terms.

Why is this so significant?

Because an enhanced sovereign rating lowers borrowing costs for both the state and corporates, while also attracting foreign capital seeking credible and growth-oriented emerging markets.

🔑 Key stocks to watch from Monday

• Attijariwafa Bank, BCP, Bank of Africa – The banking sector is expected to be on the front line, benefiting from reduced perceived risk and renewed investor appetite.

• Maroc Telecom, TAQA Morocco – Large-cap defensive plays likely to attract international investors as safe-haven assets.

• Marsa Maroc, LafargeHolcim, Ciments du Maroc, TGCC – Infrastructure and construction names stand to gain directly from renewed public and private investment momentum, supported by more favorable financing conditions.

📊 On Monday, the MASI index could open firmly in positive territory, with potential gains of +1% to +3% on large caps alongside stronger trading volumes. The key driver will be the reaction of foreign investors—their return could significantly amplify the rally.

🌍 Over the medium term, combined with Morocco’s potential reclassification into the MSCI Emerging Markets Index and its anticipated exit from the FATF grey list, the rating upgrade places the Casablanca Stock Exchange on a stronger trajectory, paving the way for a sustained bullish phase.

👉 After weeks of hesitation, particularly since August 22, 2025, the signal is now clear: Casablanca equities are entering a new positive cycle.