Standard & Poor's credit rating for Morocco stands at BBB- with negative outlook. Moody's credit rating for Morocco was last set at Ba1 with positive outlook. Fitch's credit rating for Morocco was last reported at BBB- with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Morocco thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Morocco as reported by major credit rating agencies.



AgencyRatingOutlookDate
TE53 Stable Oct 05 2018
S&PBBB- Negative Oct 05 2018
TE53 Stable Oct 05 2018
TE53 Stable Feb 24 2017
TE53 Stable Feb 24 2017
Moody's Ba1 Positive Feb 24 2017
TE54 Stable Apr 16 2016
TE53 Stable Apr 16 2016
TE53 Stable Apr 16 2016
TE53 Stable Sep 02 2014
Moody'sBa1 Stable Sep 02 2014
TE53 Stable Sep 02 2014
TE53 Negative May 16 2014
S&PBBB- Stable May 16 2014
TE53 Negative May 16 2014
TE53 Negative Apr 22 2014
TE53 Negative Apr 22 2014
TE53 Negative Mar 21 2014
TE53 Negative Mar 21 2014
TE53 Negative Oct 15 2013
TE53 Negative Oct 15 2013
TE53 Negative Jul 18 2013
TE53 Negative Jul 18 2013
TE53 Negative Jun 10 2013
TE53 Negative Jun 10 2013
TE53 Negative Feb 11 2013
Moody'sBa1 Negative Feb 11 2013
TE53 Negative Feb 11 2013
TE53 Stable Oct 11 2012
S&PBBB- Negative Oct 11 2012
TE53 Stable Oct 11 2012
TE53 Stable Nov 28 2011
TE53 Stable Nov 28 2011
TE53 Stable Aug 05 2011
TE53 Stable Aug 05 2011
TE53 Stable Aug 02 2011
TE53 Stable Aug 02 2011
TE53 Stable Jul 14 2011
TE53 Stable Jul 14 2011
TE53 Stable Jul 13 2011
TE53 Stable Jul 13 2011
TE53 Stable Apr 18 2011
TE53 Stable Apr 18 2011
TE51 Stable Mar 23 2010
S&PBBB- Stable Mar 23 2010
TE51 Stable Mar 23 2010
TE51 Positive Apr 11 2008
S&PBB+ Stable Apr 11 2008
TE51 Positive Apr 11 2008
TE50 Positive Apr 19 2007
FitchBBB- Stable Apr 19 2007
TE50 Positive Apr 19 2007
TE50 Stable Mar 26 2007
S&PBB+ Positive Mar 26 2007
TE50 Stable Mar 26 2007
TE47 Positive Aug 09 2005
S&PBB+ Stable Aug 09 2005
TE47 Positive Aug 09 2005
TE47 Stable Mar 08 2004
S&PBB Positive Mar 08 2004
TE47 Stable Mar 08 2004
TE47 Stable Jun 18 2003
Moody'sBa1 Stable Jun 18 2003
TE47 Stable Jun 18 2003
TE47 Negative Feb 21 2003
S&PBB Stable Feb 21 2003
TE47 Negative Feb 21 2003
TE47 Negative Dec 03 2001
Moody'sBa1 Negative Dec 03 2001
TE47 Negative Dec 03 2001
TE47 Stable Nov 02 2001
TE47 Stable Nov 02 2001
S&PBB Negative Nov 02 2001
TE47 Stable Sep 21 2000
TE47 Stable Sep 21 2000
TE45 Stable Jul 22 1999
TE45 Stable Jul 22 1999
Moody'sBa1 Stable Jul 22 1999
S&PBB Stable Mar 02 1998


 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 60
B- B3 B 28
B B2 B B 31
B1 B+ 35
BBB+ BBB- 60
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 50
BB+ Baa3 52
B+ B2 BB- 36
BB- Ba3 BB- 40
SD Caa3 15
B B3 B 26
AA Aa3 AA- AA (high) 88
B- B3 20
B+ N/A 30
A+ A2 N/A 78
BB- Ba3 BB- 41
B B3 28
A- A2 72
BB- Ba2 BB- BB (low) 42
BBB- Baa2 BBB 58
B 25
N/A B2 30
B B2 B 30
AAA Aaa AAA AAA 99
B B 30
Aa3 85
A+ A1 A N/A 80
A+ A1 A+ A (high) 81
BBB- Baa2 BBB BBB 58
CCC+ B3 22
BB- Ba2 BB 43
BB+ Ba2 BB+ 48
Caa2 15
BBB- Ba2 BBB- BB 48
AA- A1 AA- 81
AAA Aaa AAA AAA 100
BB- Ba3 BB- 38
B- B3 B- 26
B B3 B 28
CCC+ B3 B- 21
AA- A1 AA- AA (low) 81
B B1 B 31
AA Aaa AAA AAA 98
B+ Ba3 35
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 B 26
BB- Ba2 BB- 41
AAA Aaa AAA AAA 100
B B3 B 26
B+ B3 BB- B (high) 30
SD
BB- Ba1 BB 46
BB- B1 35
AA+ Aa2 AA+ 95
BBB- Baa3 BBB- 55
A A3 A 73
BBB- Baa2 BBB- BBB 56
BBB- Baa2 BBB 56
B- Caa1 B- 25
A+ A2 A+ A (high) 76
N/A Aa2 92
AA- A1 A+ 80
BBB Baa3 BBB BBB (high) 62
Ba3 B+ 38
B B3 B 28
A+ A1 A A 77
B+ B1 37
BBB- Baa3 BBB 56
B+ B2 B+ 35
AA Aa2 AA 90
NR B2 30
A A3 A- A (low) 70
B- B3 B- 28
B+ 35
AAA 100
A A3 A- A (low) 71
AAA Aaa AAA AAA 100
Aa3 AA 85
BB- BB 42
A- A3 A- 70
B2 B+ 32
A- A3 A+ A (high) 73
Baa1 65
BBB+ A3 BBB+ BBB (high) 65
B3 25
B B3 B 26
B+ B1 35
BBB- 55
BBB- Ba1 BBB- 53
SD Caa3 RD 12
Ba1 BB+ 52
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B2 B 30
B B2 B+ 31
AAA Aaa AAA AAA 99
BB Baa3 BBB- 53
B B3 B 28
BBB Baa2 BBB 60
B B2 32
BB Ba1 BB 46
BBB+ A3 BBB+ N/A 65
BBB Baa2 BBB 60
A- A2 A- A 71
BBB- Baa3 BBB BBB 56
D 0
AA- Aa3 AA- 85
B- Caa2 CC 23
BBB- Baa3 BBB- 55
BBB- Ba1 BBB- 51
B B2 B+ 31
BBB- 55
A- A1 A+ 78
B+ Ba3 37
BB Ba3 BB 38
BB- 40
AAA Aaa AAA AAA 98
A+ A2 A+ A (high) 78
A+ Baa1 A- A 72
B3 25
BB Baa3 BB+ 50
AA Aa2 AA- 86
A- Baa1 A- A 68
B+ B1 B+ 35
B3 25
B B2 B- 28
B2
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3
B1
BBB+ Baa1 BBB+ 65
BBB+ Ba1 57
N/A B2 B+ 35
B+ Ba3 BB BB (high) 43
B B2 B+ 33
B- Caa2 B- 20
AA Aa2 AA 90
AA Aa2 AA AAA 93
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
SD C RD 12
BB- Ba3 BB 40
B- Caa1 B- 34


Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com


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