Bahrain Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Bahrain	B2 Negative	B Stable	B+ Negative	NR	NR

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Bahrain	Nov 21, 2025	S&P	B+	Negative	B	Stable
Bahrain	Apr 24, 2025	S&P	B+	Positive	B+	Negative
Bahrain	Feb 24, 2025	Fitch	B+	Stable	B+	Negative
Bahrain	Nov 25, 2022	S&P	B+	Stable	B+	Positive
Bahrain	Nov 26, 2021	S&P	B+	Negative	B+	Stable
Bahrain	May 28, 2021	S&P	B+	Stable	B+	Negative
Bahrain	Apr 29, 2021	Moody's	B2	Stable	B2	Negative
Bahrain	Aug 14, 2020	Fitch	BB-	Stable	B+	Stable
Bahrain	Mar 26, 2020	S&P	B+	Positive	B+	Stable
Bahrain	Nov 29, 2019	S&P	B+	Stable	B+	Positive
Bahrain	Dec 17, 2018	Moody's	B2	Negative	B2	Stable
Bahrain	Aug 03, 2018	Moody's	B1	Negative	B2	Negative
Bahrain	Mar 01, 2018	Fitch	BB+	Negative	BB-	Stable
Bahrain	Dec 01, 2017	S&P	BB-	Negative	B+	Stable
Bahrain	Nov 10, 2017	Fitch	BB+	Negative	BB+	Negative
Bahrain	Jul 28, 2017	Moody's	Ba2	Negative	B1	Negative
Bahrain	Jun 30, 2017	Fitch	BB+	Negative	BB+	Negative
Bahrain	Jun 12, 2017	Fitch	BB+	Stable	BB+	Negative
Bahrain	Jun 02, 2017	S&P	BB-	Stable	BB-	Negative
Bahrain	Dec 09, 2016	S&P	BB	Stable	BB-	Stable

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 Bahrain’s current credit rating?

Bahrain’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 Bahrain’s credit risk.

Has Bahrain’s credit rating changed recently?

This page lists the latest rating and outlook actions for Bahrain, showing when each agency last reviewed or changed its assessment.

Why does Bahrain’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Bahrain's bond yields, currency, and equity flows as investors reassess risk.

How does Bahrain’s rating compare to other countries?

You can explore how Bahrain 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.