S&P revises Jordan to negative

Standard & Poor's said it revised its outlook on the long-term rating on the Jordan to negative from stable and affirmed the long- and short-term foreign and local currency sovereign credit ratings at BB-/B.

Jordan continues to face enormous pressures stemming from ongoing regional conflicts.

S&P said it revised downward its economic growth projections, and now expects wider current account deficits.

Excluding lower government transfers to NEPCO, the national electricity provider, underlying fiscal performance has also deteriorated, the agency said.

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