Republic of Serbia’s long-term credit rating

The Republic of Serbia cooperates with S&P, Fitch and Moody’s. These two agencies assess its short- and long-term foreign currency and local currency credit rating. The table below shows the current long-term foreign currency credit ratings of the Republic of Serbia, as assigned by previously mentioned agencies.

  Rating Date Action
Standard and Poor’s BB+ / positive outlook 10 December 2021 Rating affirmed
Fitch Ratings BB+ / stable outlook 25 February 2022 Rating affirmed
Moody’s Investors Service Ba2 / stable outlook 12 March 2021 Rating upgraded

Source: Standard and Poor’s, Fitch Ratings and Moody’s Investors Service

Serbia got its first credit rating (B+, stable outlook) from S&P on 1 November 2004. The assignment of credit rating by Fitch followed in 2005 (BB-, stable outlook), while Moody’s awarded its first credit rating to Serbia (B1, stable outlook) on 14 July 2013. . The tables below give a historical overview of Serbia’s long-term foreign currency credit ratings.

  • Date Rating / outlook Action
    Ba2 / stable 12/03/2021 Rating upgraded
    press release
    Ba3 / positive 02/09/2020 Rating affirmed
    press release
    Ba3 / positive 06/09/2019 Rating affirmed
    press release
    Bа3 / stable 17/03/2017 Rating upgraded
    press release
    B1 / positive 14/07/2013 Rating affirmed
    press release
    B1 / stable 14/07/2013 Rating assigned
    press release

    Source: Moody’s Investors Service