Jordan Hit By Syrian Overspill, Moody’s Downgrades Two Notches
Ratings agency Moody’s has lowered Jordan’s government bond rating by two notches to B1 from Ba2 as the cost of hosting Syrian refugees escaping the ongoing civil war in their country continues to rise.
The ratings agency identified the following three drivers for the downgrade:
*A sharp deterioration in Jordan’s public finances since 2009, “due to a...