Morocco has regained investment-grade status from Standard & Poor’s, which raised the country’s sovereign rating to BBB-/A-3. The upgrade, announced on September 26, 2025, restores a level Morocco lost in 2021 during the pandemic and positions it as the only African nation currently holding investment-grade status, as reported by Morocco World News.
S&P credited Morocco’s strong macroeconomic fundamentals, fiscal consolidation, and structural reforms for the move. The agency projects the budget deficit narrowing to 3 percent of GDP by 2026, with real GDP growth averaging 4 percent annually between 2025 and 2028, figures highlighted by Investing.com.
Government officials welcomed the development as a boost to Morocco’s standing in global capital markets. “Regaining investment-grade status is a strong signal to international markets and will improve the terms on which we can issue Eurobonds and other foreign-denominated debt,” Finance Minister Idriss Azami Al Idrissi said in remarks carried by Le7TV.
The upgrade has already translated into tangible benefits. Morocco successfully returned to the European bond market with a €2 billion dual-tranche Eurobond issue, which analysts described as being met with strong investor demand, according to 7News.
Analysts caution, however, that sustaining the rating will depend on maintaining fiscal discipline, reducing public debt vulnerabilities, and mitigating risks from climate shocks and global inflationary pressures. For now, the upgrade reinforces Morocco’s image as one of Africa’s most resilient economies, strengthening its appeal to international investors.
