The Tanger Med port in the northern Moroccan city of Tangiers
Morocco regains ‘investment grade’ rating
Standard & Poor’s upgrades Morocco's sovereign rating upwards to BBB-/A-3 thanks to the country’s resilient economy in the face of consecutive economic shocks.
Sunday 28/09/2025
The Tanger Med port in the northern Moroccan city of Tangiers
WASHINGTON - Credit rating agency Standard & Poor’s has revised Morocco's sovereign rating upwards to BBB-/A-3, reclassifying the North African kingdom back to the “Investment grade” category.
The decision by the rating agency, taken following a mission to the Morocco in September, is explained by the resilience of the Moroccan economy in the face of successive economic shocks, the most recent of which was triggered by the instability of global trade due to US customs duties, S&P said on its website.
Morocco's reclassification to the "Investment Grade" category gives it multiple advantages, facilitating access to international financing on more advantageous terms and reducing the cost of public debt.
The reclassification is set to strengthen the confidence of foreign investors and partners, and increase the country’s attractiveness for foreign direct investment, thus contributing to sustainably supporting economic growth and macroeconomic stability.
“Morocco's economic growth outlook is solid, with real GDP growth expected to average 4% between 2025 and 2028," said the agency, estimating that the performance and prospects of Morocco's economy are supported by the macroeconomic policies taken by the kingdom and by the "strong dynamic of structural socio-economic and budgetary reforms which should continue to contribute to the formalization and diversification of the economy."
The agency stressed that the budget deficit was expected to fall to 3% of GDP in 2026, supported by an increase in public revenues, adding that the current account deficit will remain under control, averaging around 2.1% of GDP between 2025 and 2028.
The upgrade of the rating by Standard & Poor's is the second after the March 2024 upgrade, which changed the outlook for the Moroccan economy from "stable" to "positive."
The two successive revisions come in a particularly difficult international context, where several countries, including developed ones, have seen their sovereign ratings lowered.