Highlights

Fitch Ratings confirms the level of ``investment grade`` assigned to Morocco with a steady prospect : 02/02/2011

Fitch Ratings confirms the level of ``investment grade`` assigned to Morocco with a steady prospect

"Fitch Ratings" confirmed Tuesday, February 1st 2011, the level of investment grade assigned to Morocco with a steady prospect, stating that the Kingdom, unlike the other countries in the region, is distinguished by a pluralist political system.

In this respect, Fitch Ratings highlighted the resources deployed by Morocco during the past decade which contributed to reduce poverty and unemployment.

The rating agency which also confirmed the sovereign rating by holding the (BBB-) rating in foreign currency and the (BBB) rating in the Kingdom`s local currency stated that public infrastructure investment also enhanced the growth potential and gradually reduced unemployment.

She also stressed that Morocco`s prudent fiscal policy, which resulted in reducing the central government`s debt level to almost 49% of GDP in 2010 against 70% in 2000, enabled authorities to cope with the global financial crisis.

With Standard & Poor`s (S & P) and Moody`s, Fitch Ratings belongs to the triumvirate of the international major rating agencies.