Current Serbia credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Serbia ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Serbia, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
The table below shows the current Serbia credit ratings, according to the main rating agencies.
Rating Agency | Rating | Outlook | Last Update | Action |
---|---|---|---|---|
Standard & Poor's | BBB- | - | 7 Oct 2024 | rating upgrade |
Moody's Investors Service | Ba2 | positive | 2 Sep 2024 | outlook upgrade |
Fitch Ratings | BB+ | - | 28 Sep 2019 | rating upgrade |
DBRS | - | - |
Serbia: Long-term Rating Scales Comparison
Serbia long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Serbia sovereign debt. These scales help investors understand the likelihood that Serbia will meet its financial obligations.
Symbol means a negative outlook.
Grade | Description | S&P | Moody's | Fitch | DBRS |
---|---|---|---|---|---|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
AA
|
Aa2
|
AA
|
AA
|
||
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
A
|
A2
|
A
|
A
|
||
A-
|
A3
|
A-
|
A(low)
|
||
Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
BB
|
Ba2
|
BB
|
BB
|
||
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
B
|
B2
|
B
|
B
|
||
B-
|
B3
|
B-
|
B(low)
|
||
Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
C
|
C
|
C
|
C
|
||
In Default |
RD
|
/
|
RD
|
RD
|
|
SD
|
/
|
SD
|
SD
|
||
D•NR
|
D•NR
|
D•NR
|
D•NR
|
Serbia Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
Date | S&P | Moody's | Fitch | DBRS |
---|---|---|---|---|
7 Oct 2024 | BBB- | |||
2 Sep 2024 | Ba2 | |||
8 Apr 2024 | BB+ | |||
11 Jun 2022 | BB+ | |||
1 Jun 2022 | BB+ | |||
13 Mar 2021 | Ba2 | |||
2 May 2020 | BB+ | |||
14 Dec 2019 | BB+ | |||
28 Sep 2019 | BB+ | |||
7 Sep 2019 | Ba3 | |||
17 Dec 2018 | BB | |||
15 Dec 2017 | BB | BB | ||
17 Mar 2017 | Ba3 | |||
16 Dec 2016 | BB- | |||
17 Jun 2016 | BB- | |||
18 Mar 2016 | B1 | |||
15 Jan 2016 | BB- | |||
18 Dec 2015 | B+ | |||
17 Jan 2014 | B+ | |||
14 Jul 2013 | B1 | |||
16 Aug 2012 | BB- | |||
7 Aug 2012 | BB- | |||
16 Mar 2011 | BB | |||
11 Nov 2010 | BB- | |||
1 Dec 2009 | BB- | |||
23 Dec 2008 | BB- | |||
11 Mar 2008 | BB- | |||
10 Jul 2007 | BB- | |||
28 Feb 2006 | BB- | |||
18 Jul 2005 | BB- | |||
19 May 2005 | BB- | |||
1 Nov 2004 | B+ |