1. Sovereigns Ratings List

Morocco Rating: Morocco Credit Rating

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Rating Moody's Morocco
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2022-07-01Ba1 (Stable)
2021-02-04Ba1 (Negative)2022-07-01Ba1
2018-11-20Ba1 (Stable)2021-02-04Ba1
2017-02-24Ba1 (Positive)2018-11-20Ba1
2014-09-02Ba1 (Stable)2017-02-24Ba1
2013-02-11Ba1 (Negative)2014-09-02Ba1
2003-11-15(Stable)2013-02-11Ba1
1999-07-22Ba12001-12-03Ba1
Moody's: Long term Rating
Rating S&P Morocco
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2024-03-29BB+ (Positive)
2021-04-02BB+ (Stable)
2020-10-02(Negative)
2019-10-04(Stable)
2018-10-05(Negative)2024-03-29BB+
2014-05-16(Stable)2021-04-02BB+2021-04-02B
2012-10-11(Negative)2013-11-15BBB-2021-04-02B2013-11-15A-3
2010-03-23BBB- (Stable)2011-07-13BBB2010-03-23A-32010-03-23A-2
S&P: Long term Rating
Rating Fitch Morocco
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2020-10-23BB+2020-10-23B
2020-10-23BB+ (Stable)2020-04-28BBB-2020-04-28F3
2020-04-28BBB-2019-12-10BBB-2019-12-10F3
2019-12-10BBB-2019-04-11BBB-2019-04-11F3
2019-04-11BBB-2018-11-13BBB-2018-11-13F3
2018-11-13BBB-2018-03-29BBB-2018-03-29F3
2018-03-29BBB- (Stable)2017-10-10BBB-2017-10-10F3
2017-10-10BBB- (Stable)2017-04-07BBB-2017-04-07F3
2017-04-07BBB- (Stable)2016-10-21BBB-2016-10-21F3
2016-10-21BBB- (Stable)2016-07-22BBB-2016-07-22F3
2016-07-22BBB- (Stable)2016-04-22BBB2016-04-22F3
2016-04-22BBB- (Stable)2015-10-23BBB2015-10-23F3
2015-10-23BBB- (Stable)2015-04-24BBB2015-04-24F3
2015-04-24BBB-2014-10-24BBB2014-10-24F3
2014-10-24BBB- (Stable)2014-06-13BBB2014-06-13F3
2014-06-13BBB- (Stable)2014-04-25BBB2014-04-25F3
2014-04-25BBB- (Stable)2013-11-29BBB2013-11-29F3
2013-11-29BBB- (Stable)2013-11-05BBB2013-11-05F3
2013-11-05BBB- (Stable)2012-12-06BBB2012-12-06F3
2012-12-06BBB- (Stable)2012-11-07BBB2012-11-07F3
2012-07-12BBB- (Stable)2012-07-12BBB2012-07-12F32020-10-23B
2012-02-21BBB- (Stable)2012-02-21BBB2012-02-21F32020-04-28F3
2012-01-11BBB- (Stable)2012-01-11BBB2012-01-11F32019-12-10F3
2011-10-19BBB- (Stable)2011-10-19BBB2011-10-19F32019-04-11F3
2011-10-04BBB- (Stable)2011-10-04BBB2011-10-04F32018-11-13F3
2007-04-19BBB- (Stable)2007-04-19BBB2007-04-19F32018-03-29F3
Fitch: Long term Rating

GradeMoody'sS&PFitch
PrimeAaaAAAAAA
High gradeAa1AA+AA+
Aa2AAAA
Aa3AA-AA-
Upper medium gradeA1A+A+
A2AA
A3A-A-
Lower medium gradeBaa1BBB+BBB+
Baa2BBBBBB
Baa3BBB-BBB-
Non-investment grade
speculative		Ba1BB+BB+
Ba2BBBB
Ba3BB-BB-
Highly speculativeB1B+B+
B2BB
B3B-B-
Substantial risksCaa1CCC+CCC+
Caa2CCCCCC
Caa3CCC-CCC-
Extremely speculativeCaCCCC
C
In default with little
prospect for recovery		SDRD
In defaultCDD
DD
DDD
Not ratedWRNR
GradeMoodysS&PFitch
High gradeP-1A-1+F1+
Upper medium gradeP-1A-1F1
Lower medium gradeP-2A-2F2
Non-investment grade
speculative		P-3A-3F3
Highly speculativeBB
Extremely speculativeNPCC