VOL. XLIV

No 51

17-December-2001

MOROCCO

Moodys Rates Morocco Local Currency Ba1; Cuts Foreign Currency CeilingTo Negative

US ratings agency MoodysInvestors Service announced on 3 December that it had assigned a Ba1 rating toMoroccos local currency bonds and changed the outlook on its Ba1 foreigncurrency ceiling to negative from stable. The newly assigned rating and outlookchange reflects a poor fiscal performance, said Moodys, noting that widebudget deficits result from a large and growing wage...