Morocco | - Part 2

Moody’s affirms BMCE’s deposit ratings; changes the outlook to stable from negative

Casablanca, Morocco (Capital Markets in Africa) — Moody’s Investors Service has today affirmed and changed the outlook to stable from negative on the Ba1 long-term local-currency deposit rating and senior unsecured debt rating of BMCE Bank. Concurrently, Moody’s affirmed BMCE’s ba3 baseline credit assessment (BCA), its Ba2 long-term foreign currency deposit rating, the short-term local and foreign-currency Not-prime ratings and its B1 foreign subordinate debt rating. In light of the revised bank rating methodology, published…

Morocco reduces euro’s weighting in its currency basket

Posted on by The Editorial Team

RABAT, April 13 (Reuters) – Morocco’s central bank has reduced the euro’s weighting in the currency basket used to set the dirham’s exchange rate, to reflect a fall in trade with the euro zone, it said on Monday. It is the first time in a decade that the bank has changed the basket’s weighting, aiming to make its currency regime more flexible, as recommended by the International Monetary Fund. The dirham is still mostly pegged…

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