Finland Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Aa1 Stable | AA+ Stable | AA Stable | AA (high) Stable | AA+ Negative |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Aug 01, 2025 | Scope Ratings | AA+ | Stable | AA+ | Negative | |
| Jul 25, 2025 | Fitch | AA+ | Negative | AA | Stable | |
| Aug 10, 2024 | Fitch | AA+ | Stable | AA+ | Negative | |
| Jan 24, 2020 | Fitch | AA+ | Positive | AA+ | Stable | |
| Aug 03, 2018 | Fitch | AA+ | Stable | AA+ | Positive | |
| Aug 18, 2017 | Scope Ratings | NR | AA+ | Stable | ||
| Sep 16, 2016 | S&P | AA+ | Negative | AA+ | Stable | |
| Sep 09, 2016 | DBRS | AAA | Negative | AA (high) | Stable | |
| Jun 03, 2016 | Moody's | Aaa | Negative | Aa1 | Stable | |
| Mar 11, 2016 | Fitch | AAA | Negative | AA+ | Stable | |
| Sep 25, 2015 | S&P | AA+ | Stable | AA+ | Negative | |
| Sep 11, 2015 | DBRS | AAA | Stable | AAA | Negative | |
| Jun 05, 2015 | Moody's | Aaa | Stable | Aaa | Negative | |
| Mar 20, 2015 | Fitch | AAA | Stable | AAA | Negative | |
| Oct 10, 2014 | S&P | AAA | Negative | AA+ | Stable | |
| May 16, 2014 | DBRS | AAA | Stable | AAA | Stable | |
| Apr 11, 2014 | S&P | AAA | Stable | AAA | Negative | |
| Jan 14, 2013 | S&P | AAA | Negative | AAA | Stable | |
| Aug 14, 2012 | DBRS | NR | AAA | Stable | ||
| Jan 13, 2012 | S&P | AAA | Negative Watch | AAA | Negative |
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 |
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 Finland’s current credit rating?
Finland’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Finland’s credit risk.
Has Finland’s credit rating changed recently?
This page lists the latest rating and outlook actions for Finland, showing when each agency last reviewed or changed its assessment.
Why does Finland’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Finland's bond yields, currency, and equity flows as investors reassess risk.
How does Finland’s rating compare to other countries?
You can explore how Finland ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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