Benin Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
B1 Positive | BB- Stable | B+ Positive | NR | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Jan 16, 2026 | Fitch | B+ | Stable | B+ | Positive | |
| Dec 19, 2025 | S&P | BB- | Positive | BB- | Stable | |
| Feb 27, 2025 | Moody's | B1 | Stable | B1 | Positive | |
| Oct 18, 2024 | S&P | B+ | Positive | BB- | Positive | |
| Oct 20, 2023 | S&P | B+ | Stable | B+ | Positive | |
| Oct 29, 2021 | Fitch | B | Positive | B+ | Stable | |
| Mar 09, 2021 | Moody's | B2 | Positive | B1 | Stable | |
| Feb 11, 2021 | Fitch | B | Stable | B | Positive | |
| Apr 09, 2020 | Fitch | B | Positive | B | Stable | |
| Jun 18, 2019 | Moody's | NR | B2 | Positive | ||
| Mar 08, 2019 | Fitch | N/A | — | B | Positive | |
| Jul 05, 2018 | S&P | N/A | — | B+ | Stable | |
| Nov 01, 2013 | S&P | B | Stable | N/A | — | |
| Feb 20, 2012 | S&P | NR | B | Stable | ||
| Jan 25, 2012 | Fitch | B | Stable | N/A | — | |
| Sep 15, 2004 | Fitch | NR | B | 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 Benin’s current credit rating?
Benin’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 Benin’s credit risk.
Has Benin’s credit rating changed recently?
This page lists the latest rating and outlook actions for Benin, showing when each agency last reviewed or changed its assessment.
Why does Benin’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Benin's bond yields, currency, and equity flows as investors reassess risk.
How does Benin’s rating compare to other countries?
You can explore how Benin 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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