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S&P affirms BB/B credit rating for Jordan

Standard & Poor's has affirmed its long-and short-term foreign and local currency sovereign credit ratings for Jordan at "BB/B" with a negative outlook, Gulf Today has reported. The kingdom's ratings are constrained by the vulnerability of its economy to regional economic and political shocks, and by its limited fiscal flexibility, S&P said. The outlook could be revised to 'Stable' if planned political and economic reforms proceed or if grants delivered before year-end exceed expectations, the rating agency said.