The Commune of Casablanca has announced that it has been assigned a credit rating of BBB- for long-term and A-3 for short-term by S&P Global Ratings, with a stable outlook. This rating is a recognition of the commune's solid financial management, resilient budgetary performance, and ability to mobilize diversified resources to support the development of the metropolis. The rating was announced on October 29, 2026.
According to S&P Global Ratings' report published on October 22, 2026, the commune's financial situation has favorable prospects, driven by the growth of revenues, improved tax collection, and controlled operating expenses. The agency expects a gradual improvement in the commune's gross savings, which is expected to reach around 25% of operating revenues by 2028, compared to 19% in 2025.
The report highlights the efforts made by the commune in modernizing and digitalizing the tax administration, expanding the tax base, and improving the efficiency of collecting communal revenues. The rating also takes into account Casablanca's strategic role as the main economic and financial hub of Morocco, the diversification of its economic fabric, and its ability to attract investments.
The commune's financial planning and budget execution monitoring systems, as well as the mobilization of diversified financing mechanisms to support its structuring projects, were also considered in the rating. The Commune's Action Plan 2023-2028 and the Grand Casablanca development programs are key levers for supporting urban transformation, improving mobility, and strengthening public infrastructure and services.
The stable outlook attributed by S&P Global Ratings reflects that of the Kingdom of Morocco. According to the agency's projections, the commune is expected to maintain satisfactory budgetary performance over the period 2026-2028, while continuing to gradually reduce its direct debt. The report also highlights the solidity of the commune's liquidity position and its access to diversified financing sources.
This rating is an important benchmark for dialogue with institutional and financial partners and contributes to strengthening the commune's visibility among economic actors and investors. The Commune of Casablanca has reaffirmed its commitment to rigorous, transparent, and responsible management of local public finances.
The commune will continue its efforts to mobilize resources, rationalize expenses, control debt, and optimize public investment. These orientations are part of a sustainable approach aimed at consolidating the commune's financial balances, strengthening its investment capacity, and supporting Casablanca's economic, social, and urban development ambitions.
Key points
- The Commune of Casablanca has received a BBB-/A-3 credit rating from S&P Global Ratings with a stable outlook.
- The rating reflects the commune's solid financial management and resilient budgetary performance.
- The commune is expected to maintain satisfactory budgetary performance over the period 2026-2028.
