LONDON (Standard&Poor's) May 22, 2003--Standard&Poor's Ratings Services said today it does not expect the recent bomb attacks to have any immediate impact on the credit standing of the Kingdom of Morocco (local currency BBB/Stable/A-3; foreign currency BB/Stable/B), although longer-term effects will depend on policy responses. "The direct impact of the attacks is not, in itself, of sufficient magnitude to call into question the stability of the ratings on Morocco," said Standard&Poor's credit analyst Luc Marchand. "Of more importance is the authorities' ability to put together appropriate policy responses to any economic disruption further down the line." On the political front, broad popular support for the leadership's market-oriented policies appears likely to persist. Radical strains
