Standard & Poor’s Maintains Jordan’s Credit Rating

General view of Amman, Jordan - File/Reuters
General view of Amman, Jordan - File/Reuters
TT
20

Standard & Poor’s Maintains Jordan’s Credit Rating

General view of Amman, Jordan - File/Reuters
General view of Amman, Jordan - File/Reuters

Jordan's Finance Minister Mohamad Al Ississ told Reuters on Tuesday that S&P Global's decision to maintain the kingdom's sovereign credit rating at B+/B reflected confidence in accelerating IMF-backed reforms.

"This is the latest confirmation of Jordan's credit rating ... a collective validation across rating agencies in recent months in their confidence in Jordan's monetary and fiscal policy," Al Ississ said.

Ratings agency S&P noted in a report released late on Monday that Jordan was moving ahead with reforms aimed at enhancing investment, widening the tax base and targeting corruption, forecasting that fiscal imbalances will moderate in the coming years.

Several ratings agencies have in recent months either upgraded or affirmed the country's credit ratings, including Moody's which last November upgraded the kingdom's rating outlook to positive from stable.

Jordan’s commitment to IMF reforms and investor confidence in the outlook helped it to maintain stable sovereign ratings at a time when other emerging markets were being downgraded, Al Ississ said.

The IMF said at the end of last year that progress with structural reforms had cushioned the economy and strengthened macro-economic stability, boosting Jordan's growth in 2022 despite global economic turbulence.

Jordan's central bank governor Adel al Sharkas said the rating outlook reflected the "soundness of Jordan's macroeconomic fundamentals" at a time of global economic crisis.

"In light of the unfavorable environment, the move to categorize Jordan as a stable economy makes it an attractive destination for safe, long-term investments," he added.



Shell Denies Reports that the Energy Giant is in Talks to Take Over BP

FILE -This is the Shell Oil logo in front of a Shell gas station in Pittsburgh, June 25, 2025. (AP Photo/Gene J. Puskar, File)
FILE -This is the Shell Oil logo in front of a Shell gas station in Pittsburgh, June 25, 2025. (AP Photo/Gene J. Puskar, File)
TT
20

Shell Denies Reports that the Energy Giant is in Talks to Take Over BP

FILE -This is the Shell Oil logo in front of a Shell gas station in Pittsburgh, June 25, 2025. (AP Photo/Gene J. Puskar, File)
FILE -This is the Shell Oil logo in front of a Shell gas station in Pittsburgh, June 25, 2025. (AP Photo/Gene J. Puskar, File)

British oil giant Shell on Thursday denied media reports that it is in talks to buy rival BP.

The Wall Street Journal on Wednesday said Shell was holding “early stage talks,″ to acquire BP, citing people familiar with the matter.

“In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” Shell said in a statement to the London Stock Exchange.

Shell has repeatedly denied speculation that it was considering a takeover of its smaller rival BP, saying it was focused on streamlining and simplifying its own business.

Some analysts have suggested BP would be an attractive takeover after a plan to shift its focus to renewable energy, which was abandoned earlier this year, left its shares undervalued in comparison to other oil companies.

BP has also struggled to recover from the 2010 Deepwater Horizon disaster, which killed 17 workers and forced the company to pay billions of dollars for environmental damage in the Gulf of Mexico.