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Fitch Rates Morocco’s EUR1bn Bond ’BBB-’

Fitch Ratings has assigned Morocco’s EUR1bn bond issuance a ’BBB-’ rating.

The EUR1bn 10-year notes have a coupon of 3.5% and spread at issue of 233.5bp over German Bunds.


The rating is in line with Morocco’s ’BBB-’ Long-term foreign currency Issuer Default Rating, on which the Outlook is Stable.


The rating is sensitive to any changes in Morocco’s Long-term foreign currency IDR. Fitch affirmed Morocco’s ratings on 25 April 2014 and will next review them on 24 October 2014.

Next Finance , June 2014

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