October 20, 2017 / 8:36 PM / in a year

BRIEF-S&P says Jordan downgraded to 'B+' on weaker government debt structure, higher external financing needs

Oct 20 (Reuters) - S&P Global Ratings:

* S&P says Jordan downgraded to ‘B+’ on weaker government debt structure and higher external financing needs; outlook stable

* S&P says “Jordan’s external vulnerabilities have increased and the structure of the government’s debt stock has weakened, in our view”

* S&P says Jordan government’s debt stock to remain high, fiscal reforms to likely be slower than expected due to weak macroeconomic environment, social pressures

* S&P says Jordan’s outlook balances greater risks from slower fiscal consolidation than expected against support from bilateral donors, at rating of ‘B+’

* S&P says expect Jordan to continue implementing fiscal reforms; project slower pace of implementation than IMF program had anticipated

* S&P says "expect Jordan's current account deficits to decline gradually with rising exports, but external funding needs will remain high" Source text: bit.ly/2hSLtFr

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