Agency confirms the weakness of the global Altnsnev Jordan's budget, and the increasing volume of public debt and high funding requirements
Faisal al-Tamimi [2014 \ 08 \ 07 10:43:41]
Set the credit rating agency Capital Intelligence's credit rating to Jordan over the long term at "BB-".
The agency said in a classification which was released on Thursday, and got "headquarters" a copy of it, the stable outlook on the local currency in the medium term rating at "B".
And used the rating agencies symbols to describe the creditworthiness start from AAA as the highest credit rating down the rankings least deserved across the letters AA, A, BBB, and there are many credit rating agencies around the world, but there are precisely three institutions known as the Big Three a "Standard & Poor's" and "Moody's" and "Fitch", all of US origin companies.
She explained that the installation of Category improvement came after the country's ability to absorb economic shocks, amid rising geopolitical risks.
The agency noted that the external financing requirements exceed 34 percent of GDP in 2014, stressing the importance of the Jordanian government's commitment to continue structural reforms, which are aimed at addressing the chronic imbalances in the economy.
She stressed that the country's public finances are a major obstacle for rating, due to the weakness of the budget, increasing the size of the public debt and high funding requirements.
In parallel, the agency said the refinancing risk is still high, but those risks can be controlled on the near-term.
And it predicted that the government be able to meet a significant portion of short-term financing through the second euro bond issue guaranteed by the US government