Maldives Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Caa2 Stable | NR | CC — | NR | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Nov 27, 2025 | Moody's | Caa2 | Under Review | Caa2 | Stable | |
| Sep 11, 2024 | Moody's | Caa1 | Stable | Caa2 | Under Review | |
| Aug 29, 2024 | Fitch | CCC+ | — | CC | — | |
| Jun 26, 2024 | Fitch | B- | Negative | CCC+ | — | |
| Oct 13, 2022 | Fitch | B- | Stable | B- | Negative | |
| Oct 28, 2021 | Fitch | CCC | — | B- | Stable | |
| Aug 17, 2021 | Moody's | B3 | Negative | Caa1 | Stable | |
| Nov 05, 2020 | Fitch | B | Negative | CCC | — | |
| May 21, 2020 | Moody's | B2 | Negative | B3 | Negative | |
| Mar 30, 2020 | Fitch | B+ | Stable | B | Negative | |
| Jul 25, 2018 | Moody's | B2 | Stable | B2 | Negative | |
| May 15, 2017 | Fitch | NR | B+ | Stable | ||
| Sep 02, 2016 | Moody's | NR | B2 | 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 Maldives’s current credit rating?
Maldives’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 Maldives’s credit risk.
Has Maldives’s credit rating changed recently?
This page lists the latest rating and outlook actions for Maldives, showing when each agency last reviewed or changed its assessment.
Why does Maldives’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Maldives's bond yields, currency, and equity flows as investors reassess risk.
How does Maldives’s rating compare to other countries?
You can explore how Maldives 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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