Belize Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Caa1 Stable | B- Stable | NR | NR | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Oct 15, 2024 | Moody's | Caa2 | Stable | Caa1 | Stable | |
| Nov 16, 2022 | Moody's | Caa3 | Stable | Caa2 | Stable | |
| Nov 09, 2021 | S&P | SD | — | B- | Stable | |
| May 24, 2021 | S&P | CC | Negative | SD | — | |
| Feb 25, 2021 | S&P | CCC+ | Stable | CC | Negative | |
| Nov 24, 2020 | Moody's | Caa1 | Negative | Caa3 | Stable | |
| Aug 21, 2020 | S&P | SD | — | CCC+ | Stable | |
| Aug 12, 2020 | S&P | CC | Negative Watch | SD | — | |
| Jun 30, 2020 | S&P | CCC | Negative | CC | Negative Watch | |
| May 12, 2020 | Moody's | B3 | Stable | Caa1 | Negative | |
| Apr 16, 2020 | S&P | B- | Stable | CCC | Negative | |
| Apr 11, 2017 | Moody's | Caa2 | Stable | B3 | Stable | |
| Mar 23, 2017 | S&P | SD | — | B- | Stable | |
| Mar 17, 2017 | S&P | CC | Negative Watch | SD | — | |
| Feb 21, 2017 | S&P | CC | Negative | CC | Negative Watch | |
| Nov 23, 2016 | S&P | CCC+ | Negative | CC | Negative | |
| Nov 15, 2016 | S&P | B- | Stable | CCC+ | Negative | |
| Nov 25, 2015 | S&P | B- | Positive | B- | Stable | |
| Nov 07, 2014 | S&P | B- | Stable | B- | Positive | |
| Apr 15, 2013 | Moody's | Ca | Stable | Caa2 | 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 Belize’s current credit rating?
Belize’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 Belize’s credit risk.
Has Belize’s credit rating changed recently?
This page lists the latest rating and outlook actions for Belize, showing when each agency last reviewed or changed its assessment.
Why does Belize’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Belize's bond yields, currency, and equity flows as investors reassess risk.
How does Belize’s rating compare to other countries?
You can explore how Belize 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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