Morocco Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Ba1 Stable | BB+ Positive | BB+ Stable | NR | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Jul 04, 2025 | Scope Ratings | BB+ | Stable | NR | — | |
| Mar 29, 2024 | S&P | BB+ | Stable | BB+ | Positive | |
| Sep 08, 2023 | Scope Ratings | NR | BB+ | Stable | ||
| Jul 01, 2022 | Moody's | Ba1 | Negative | Ba1 | Stable | |
| Apr 02, 2021 | S&P | BBB- | Negative | BB+ | Stable | |
| Feb 04, 2021 | Moody's | Ba1 | Stable | Ba1 | Negative | |
| Oct 23, 2020 | Fitch | BBB- | Negative | BB+ | Stable | |
| Oct 02, 2020 | S&P | BBB- | Stable | BBB- | Negative | |
| Apr 28, 2020 | Fitch | BBB- | Stable | BBB- | Negative | |
| Oct 04, 2019 | S&P | BBB- | Negative | BBB- | Stable | |
| Nov 20, 2018 | Moody's | Ba1 | Positive | Ba1 | Stable | |
| Oct 05, 2018 | S&P | BBB- | Stable | BBB- | Negative | |
| Feb 24, 2017 | Moody's | Ba1 | Stable | Ba1 | Positive | |
| Sep 02, 2014 | Moody's | Ba1 | Negative | Ba1 | Stable | |
| May 16, 2014 | S&P | BBB- | Negative | BBB- | Stable | |
| Feb 11, 2013 | Moody's | Ba1 | Stable | Ba1 | Negative | |
| Oct 11, 2012 | S&P | BBB- | Stable | BBB- | Negative | |
| Mar 23, 2010 | S&P | BB+ | Stable | BBB- | Stable | |
| Apr 11, 2008 | S&P | BB+ | Positive | BB+ | Stable | |
| Apr 19, 2007 | Fitch | NR | BBB- | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CCC | CC |
C | CCC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Morocco’s current credit rating?
Morocco’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Morocco’s credit risk.
Has Morocco’s credit rating changed recently?
This page lists the latest rating and outlook actions for Morocco, showing when each agency last reviewed or changed its assessment.
Why does Morocco’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Morocco's bond yields, currency, and equity flows as investors reassess risk.
How does Morocco’s rating compare to other countries?
You can explore how Morocco ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
Advertisement