S&P Global Ratings has given the municipality of Casablanca a long-term rating of BBB- and a short-term rating of A-3, with a stable outlook. That outlook mirrors the one for the Kingdom of Morocco itself. The report was published on 22 October.
The agency expects higher municipal revenue thanks to better tax collection and tighter control of operating costs. Gross savings are projected to rise from 19% of operating revenue in 2025 to around 25% in 2028. For 2026 to 2028, S&P also expects the city's direct debt to come down gradually.
S&P further points to the municipality's cash position, its access to several funding sources and Casablanca's role as the country's economic and financial hub, with a diversified economy.
With more of its own resources, the city can pay for a larger share of its investments and borrow less. These funds go to the 2023-2028 municipal action plan and the Greater Casablanca development programmes for urban renewal, mobility, infrastructure and public services, areas that shape how liveable neighbourhoods are and, with that, the housing market.
