FRANKFURT (Standard&Poor's) Sept. 29, 2010--Standard&Poor's Ratings Services said today that it has assigned its investment-grade 'BBB-' long-term senior unsecured sovereign debt rating to the 10-year benchmark €1 billion Eurobond issued by the Kingdom of Morocco (foreign currency BBB-/Stable/A-3; local currency BBB+/Stable/A-2). The coupon rate on the bond is 4.5% and it matures in 2020. The ratings on the Kingdom of Morocco are supported, in our view, by the government's overall track record of prudent fiscal management and high political stability. A moderate government debt burden and a strong external position further support the ratings. In light of the steady foreign exchange reserve accumulation of the past five years, Morocco's gross external financing needs to current account
