Nicaragua Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Nicaragua	B2 Stable	B+ Stable	B Stable	NR	NR

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Nicaragua	Oct 23, 2024	S&P	B	Stable	B+	Stable
Nicaragua	May 30, 2024	Fitch	B-	Positive	B	Stable
Nicaragua	Mar 15, 2024	Moody's	B3	Stable	B2	Stable
Nicaragua	Jun 05, 2023	Fitch	B-	Stable	B-	Positive
Nicaragua	Oct 25, 2022	S&P	B-	Stable	B	Stable
Nicaragua	Jun 11, 2021	Fitch	B-	Negative	B-	Stable
Nicaragua	Jun 17, 2020	Fitch	B-	Stable	B-	Negative
Nicaragua	Feb 14, 2020	Moody's	B2	Negative	B3	Stable
Nicaragua	Nov 22, 2019	Fitch	B-	Negative	B-	Stable
Nicaragua	Nov 08, 2019	S&P	B-	Negative	B-	Stable
Nicaragua	Jan 25, 2019	Moody's	B2	Stable	B2	Negative
Nicaragua	Nov 27, 2018	Fitch	B	Negative	B-	Negative
Nicaragua	Nov 09, 2018	S&P	B	Negative	B-	Negative
Nicaragua	Jul 23, 2018	S&P	B+	Negative	B	Negative
Nicaragua	Jun 22, 2018	Fitch	B+	Stable	B	Negative
Nicaragua	Jun 13, 2018	Moody's	B2	Positive	B2	Stable
Nicaragua	Jun 08, 2018	S&P	B+	Stable	B+	Negative
Nicaragua	Jul 20, 2017	Moody's	B2	Stable	B2	Positive
Nicaragua	Feb 11, 2016	S&P	NR		B+	Stable
Nicaragua	Dec 16, 2015	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
Extremely Speculative Grade			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 Nicaragua’s current credit rating?

Nicaragua’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 Nicaragua’s credit risk.

Has Nicaragua’s credit rating changed recently?

This page lists the latest rating and outlook actions for Nicaragua, showing when each agency last reviewed or changed its assessment.

Why does Nicaragua’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Nicaragua's bond yields, currency, and equity flows as investors reassess risk.

How does Nicaragua’s rating compare to other countries?

You can explore how Nicaragua 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.