| S&P Global Ratings assigned the Republic of Moldova its first long- and short-term sovereign credit ratings of BB-/B, with a stable outlook and an expectation for growth acceleration and policy continuity. This inaugural appraisal was made possible through coordinated efforts between the Invest Moldova Agency, the Ministry of Finance, and the Ministry of Economic Development and Digitalization, whose joint engagement ensured the provision of comprehensive macroeconomic data and reform progress assessments required by S&P
This rating positions Moldova among other European economies in the BB- range, such as Armenia,Albania, North Macedonia — countries that, like Moldova, are pursuing structural reforms and closer integration with the European Union while maintaining moderate levels of public debt and steady growth prospects.
This rating positions Moldova just below investment grade, indicating appreciable credit risk while maintaining a moderate buffer above default territory under S&P’s global criteria.
Moldova’s S&P rating reflects a steadily improving economic and fiscal profile. Following a period of stagnation, growth is projected to recover to 1.2 % in 2025 and 2.2 % in 2026, supported by stronger agricultural performance, renewed investment, and reforms advancing under the EU’s €1.9 billion Growth Plan. Public debt remains moderate — around 35 % of GDP by end-2025 — and is largely composed of long-term, concessional loans from official creditors, which helps maintain manageable financing needs.
The stable outlook underscores S&P’s confidence in Moldova’s continued reform progress and commitment to fiscal discipline. Ongoing alignment with EU standards, the prudent implementation of the Growth Plan, and active cooperation with institutions such as the IMF and World Bank are expected to enhance resilience and sustain the country’s upward trajectory. As reforms deepen and the business climate strengthens, Moldova is increasingly positioned to attract higher-value investments, expand its export base, and converge toward the performance of European economies.
Standard & Poor’s (S&P), a U.S.-based financial analytics and credit rating agency, is one of the “Big Three” global rating institutions alongside Fitch Ratings and Moody’s Ratings. Its sovereign ratings serve as a key benchmark for global investors, shaping perceptions of a country’s economic stability, access to international capital, and borrowing costs. |
