Sovereign Credit Ratings

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Congo	B3 Stable	B- Positive	CCC —	NR	NR

Latest Credit Changes

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Congo	Jan 23, 2026	S&P	CCC+	Stable	B-	Positive
Congo	Nov 11, 2022	Moody's	Caa1	Stable	B3	Stable
Congo	Sep 04, 2020	S&P	CCC+	Stable	CCC+	Stable
Congo	Jul 31, 2020	S&P	B-	Negative	CCC+	Stable
Congo	Apr 08, 2020	S&P	CCC+	Positive	B-	Negative
Congo	Aug 02, 2019	S&P	B-	Stable	CCC+	Positive
Congo	Jun 18, 2019	Moody's	Caa2	Stable	Caa1	Stable
Congo	Mar 27, 2019	Fitch	CC	—	CCC	—
Congo	Oct 12, 2018	Moody's	B3	Negative	Caa2	Stable
Congo	Sep 21, 2018	S&P	CCC+	Stable	B-	Stable
Congo	Dec 08, 2017	Moody's	Caa2	Negative	B3	Negative
Congo	Sep 06, 2017	Fitch	CCC	—	CC	—
Congo	Sep 05, 2017	S&P	CCC+	Stable	CCC+	Stable
Congo	Aug 04, 2017	S&P	CCC	Negative Watch	CCC+	Stable
Congo	Jul 28, 2017	Moody's	B3	Negative	Caa2	Negative
Congo	Jul 07, 2017	S&P	B-	Stable	CCC	Negative Watch
Congo	Oct 04, 2016	Moody's	B3	Negative Watch	B3	Negative
Congo	Aug 11, 2016	Fitch	RD	—	CCC	—
Congo	Aug 09, 2016	S&P	SD	—	B-	Stable
Congo	Aug 03, 2016	Fitch	C	—	RD	—

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 a sovereign credit rating?

A sovereign credit rating is an independent assessment of a country's creditworthiness, issued by agencies like S&P, Moody's, Fitch, DBRS, and Scope. These long-term foreign-currency ratings shape borrowing costs and investor confidence, and changes often move currencies, bond yields, and equity markets.

Which agencies provide sovereign credit ratings?

The five largest agencies are S&P Global Ratings, Moody's Investors Service, Fitch Ratings, DBRS Morningstar, and Scope Ratings. They monitor financial, political, and economic conditions to publish updates.

What do outlooks mean in credit ratings?

A Positive outlook suggests a possible upgrade, Stable means no change is expected, and Negative signals a potential downgrade. Outlooks indicate the likely direction of a rating in the short to medium term and often shape market expectations.

How often are sovereign ratings updated?

There is no fixed timetable. Some agencies review ratings on set calendars, while others update after major financial, political, or economic events that could affect credit risk.

Where can I find historical sovereign ratings?

You can explore past ratings and outlook revisions on each country's dedicated page within the FXEmpire Credit Ratings Hub.

What is the difference between investment grade and speculative grade?

Investment grade (BBB-/Baa3 or higher) signals lower risk and wider investor access. Speculative grade (BB+/Ba1 or lower), also called high-yield or junk, carries higher risk and volatility but often comes with higher yields.