Middle East Economic Survey
VOL. LIII
No 12
22-March-2010
JORDAN
S&P Downgrades Jordan Local Currency Rating
Standard & Poors Ratings Services (S&P) has downgraded Jordans long term local currency sovereign credit rating to BBB- with a stable outlook from BBB, due to rising government debt and weaker fiscal flexibility, it said on 12 March. Foreign currency ratings of BB/B were affirmed, as was the local currency short-term rating of A-3. Jordans fiscal deficit widened in 2009 to 7.8%...
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