No. 19



And Some Moroccan Banks

On the same day, Moodys also announced that it had adjusted the FSRs of some Moroccan banks in a similar fashion. The agency said, however, that the Ba2/NP foreign currency deposit ratings of Moroccan banks were not affected by the FSR adjustments and remain constrained by the ceiling for such deposits in Morocco. It also noted that although the timing of the adjustments coincided with the devaluation of the dirham, the two issues were...