S&P gives Casablanca BBB- rating with stable outlook
By the AFREEQUE newsroom, based on La Vie éco
S&P Global Ratings has assigned the Commune of Casablanca a long-term BBB- rating and a short-term A-3 rating, with a stable outlook. The agency expects gross savings to reach about 25% of operating revenue in 2028, up from 19% in 2025, through increased revenue and spending controls, according to its report published on 22 October.
The Commune of Casablanca has received a long-term credit rating of ‘BBB-’ and a short-term rating of ‘A-3’ from S&P Global Ratings, with a stable outlook, according to a statement from the Commune. The international agency expects gross savings to rise from 19% of operating revenue in 2025 to about 25% in 2028.
S&P Global Ratings attributes this change to higher revenue, improved tax collection and control of operating expenditure. The modernisation of the tax administration, the broadening of the tax base and the diversification of financing are expected to enable the city to finance a growing share of its investment from its own resources, the Commune reports.
The rating also takes into account Casablanca’s role as Morocco’s main economic and financial hub, as well as the diversification of its economy and its ability to attract investment. The 2023-2028 Communal Action Plan is expected to support urban transformation, mobility, infrastructure and public services, according to the same source.
