Current Spain 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 Spain 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 Spain, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
The table below shows the current Spain credit ratings, according to the main rating agencies.
Rating Agency | Rating | Outlook | Last Update | Action |
---|---|---|---|---|
Standard & Poor's | A | - | 21 Mar 2022 | outlook upgrade |
Moody's Investors Service | Baa1 | positive | 18 Mar 2024 | outlook upgrade |
Fitch Ratings | A- | - | 19 Jan 2018 | rating upgrade |
DBRS | A | positive | 3 Jun 2024 | outlook upgrade |
Spain: Long-term Rating Scales Comparison
Spain 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 Spain sovereign debt. These scales help investors understand the likelihood that Spain 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
|
Spain 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 |
---|---|---|---|---|
3 Jun 2024 | A | |||
18 Mar 2024 | Baa1 | |||
21 Mar 2022 | A | |||
19 Sep 2020 | A | |||
30 May 2020 | A | |||
23 Sep 2019 | A | |||
21 Sep 2019 | A | |||
13 Apr 2018 | Baa1 | |||
6 Apr 2018 | A | |||
23 Mar 2018 | A- | |||
19 Jan 2018 | A- | |||
21 Jul 2017 | BBB+ | |||
31 Mar 2017 | BBB+ | |||
8 Apr 2016 | A (low) | |||
19 Feb 2016 | Baa2 | |||
9 Oct 2015 | A (low) | |||
2 Oct 2015 | BBB+ | |||
10 Oct 2014 | A (low) | |||
23 May 2014 | BBB | |||
25 Apr 2014 | BBB+ | |||
21 Feb 2014 | Baa2 | |||
4 Dec 2013 | Baa3 | |||
29 Nov 2013 | BBB- | |||
1 Nov 2013 | BBB | |||
10 Oct 2012 | BBB- | |||
8 Aug 2012 | A (low) | |||
13 Jun 2012 | Baa3 | |||
7 Jun 2012 | BBB | |||
22 May 2012 | A (high) | |||
3 May 2012 | A (high) | |||
26 Apr 2012 | BBB+ | |||
13 Feb 2012 | A3 | |||
27 Jan 2012 | A | |||
13 Jan 2012 | A | |||
8 Dec 2011 | AA (low) | |||
18 Oct 2011 | A1 | |||
13 Oct 2011 | AA- | |||
7 Oct 2011 | AA- | |||
17 Aug 2011 | AA | |||
10 Mar 2011 | Aa2 | |||
4 Mar 2011 | AA+ | |||
15 Dec 2010 | Aa1 | |||
21 Oct 2010 | AA | |||
30 Sep 2010 | Aa1 | |||
30 Jun 2010 | Aaa | |||
28 May 2010 | AA+ | |||
28 Apr 2010 | AA | |||
9 Dec 2009 | AA+ | |||
19 Jan 2009 | AA+ | |||
12 Jan 2009 | AAA | |||
13 Dec 2004 | AAA | |||
10 Dec 2003 | AAA | |||
30 Jul 2003 | AA+ | |||
13 Dec 2001 | Aaa | |||
19 Sep 2001 | Aa2 | |||
1 Sep 1999 | AA+ | |||
31 Mar 1999 | AA+ | |||
6 May 1998 | AA | |||
6 Feb 1996 | AA | |||
10 Aug 1994 | AA | |||
26 Jun 1989 | AA | |||
1 Aug 1988 | AA | |||
3 Feb 1988 | Aa2 |