Moody's Investors Service Inc. cut its outlook on Jordan's debt rating to negative from stable Tuesday, citing increased political tensions that could pose risks to the country's fiscal and economic position.
The ratings agency said it would downgrade Jordan's Ba2 rating if the political unrest, similar to recent events in Tunisia and Egypt, causes a decline in its foreign exchange reserves or a jump in public debt.
"There have been a number of anti-government protests in Jordan in recent weeks," Moody's said in a statement. "Demonstrators have been demanding political reform and an improvement to poor living standards. King Abdullah's recent dismissal of the government and promise to accelerate reform was a reaction to these escalating political pressures."
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