Croatia Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
A3 Stable | BBB+ Positive | BBB+ Positive | A Stable | A- Positive |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Sep 26, 2025 | Scope Ratings | A- | Stable | A- | Positive | |
| Apr 25, 2025 | DBRS | NR | A | Stable | ||
| Nov 08, 2024 | Moody's | Baa2 | Stable | A3 | Stable | |
| Oct 18, 2024 | Scope Ratings | BBB+ | Positive | A- | Stable | |
| May 03, 2024 | Scope Ratings | BBB+ | Stable | BBB+ | Positive | |
| Oct 06, 2023 | Fitch | BBB+ | Stable | BBB+ | Positive | |
| Sep 15, 2023 | S&P | BBB- | Stable | BBB+ | Positive | |
| Jul 15, 2022 | Moody's | Ba1 | Stable | Baa2 | Stable | |
| Jul 15, 2022 | Scope Ratings | BBB- | Positive | BBB+ | Stable | |
| Jul 13, 2022 | Fitch | BBB | Positive | BBB+ | Stable | |
| Jan 28, 2022 | Scope Ratings | BBB- | Stable | BBB- | Positive | |
| Nov 12, 2021 | Fitch | BBB- | Stable | BBB | Positive | |
| Nov 13, 2020 | Moody's | Ba2 | Positive | Ba1 | Stable | |
| Apr 01, 2020 | Fitch | BBB- | Positive | BBB- | Stable | |
| Jun 28, 2019 | Scope Ratings | BB+ | Stable | BBB- | Stable | |
| Jun 07, 2019 | Fitch | BB+ | Positive | BBB- | Positive | |
| Apr 26, 2019 | Moody's | Ba2 | Stable | Ba2 | Positive | |
| Mar 22, 2019 | S&P | BB+ | Positive | BBB- | Stable | |
| Sep 21, 2018 | S&P | BB+ | Stable | BB+ | Positive | |
| Jul 27, 2018 | Scope Ratings | BB | Stable | BB+ | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CCC | CC |
C | CCC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Croatia’s current credit rating?
Croatia’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Croatia’s credit risk.
Has Croatia’s credit rating changed recently?
This page lists the latest rating and outlook actions for Croatia, showing when each agency last reviewed or changed its assessment.
Why does Croatia’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Croatia's bond yields, currency, and equity flows as investors reassess risk.
How does Croatia’s rating compare to other countries?
You can explore how Croatia ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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