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Moody’s downgrades 4 banks rating in Morocco

Four previously stable Moroccan banks are now in negative outlook. Moody’s has just confirmed the Ba1 rating of the long-term deposits of these banks. Attijariwafa bank (AWB), Groupe Banque Centrale Populaire (GBCP), Bank of Africa – BMCE Groupe (BoA) and Crédit du Maroc (CdM), were analyzed by Moody’s Investors Service. …

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Moody’s downgrades Morocco’s rating

Moody’s rating agency maintained Morocco’s “Ba1” credit rating due to its ability to access external and domestic financing on favorable terms. While Morocco’s rating has been confirmed, its outlook has nevertheless changed from “stable” to “negative”. This ability to obtain financing allows the kingdom to meet higher gross borrowing needs, …

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