Cape Verde Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
NR | B Positive | B Stable | NR | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Aug 08, 2025 | S&P | B | Stable | B | Positive | |
| Aug 16, 2024 | S&P | B- | Stable | B | Stable | |
| May 21, 2024 | Fitch | B- | Stable | B | Stable | |
| Feb 19, 2021 | S&P | B | Negative | B- | Stable | |
| Aug 28, 2020 | S&P | B | Stable | B | Negative | |
| Apr 17, 2020 | Fitch | B | Positive | B- | Stable | |
| Dec 13, 2019 | Fitch | B | Stable | B | Positive | |
| May 05, 2017 | S&P | B | Negative Watch | B | Stable | |
| Mar 31, 2017 | S&P | B | Stable | B | Negative Watch | |
| Oct 07, 2016 | S&P | B | Negative | B | Stable | |
| Apr 08, 2016 | S&P | B | Stable | B | Negative | |
| Mar 21, 2014 | Fitch | B+ | Negative | B | Stable | |
| Dec 13, 2013 | S&P | B+ | Negative | B | Stable | |
| Jun 21, 2013 | S&P | B+ | Stable | B+ | Negative | |
| Apr 05, 2013 | Fitch | B+ | Stable | B+ | Negative | |
| Nov 21, 2011 | Fitch | B+ | Stable | B+ | Stable | |
| May 24, 2011 | S&P | B+ | Negative | B+ | Stable | |
| Dec 24, 2009 | S&P | B+ | Stable | B+ | Negative | |
| Jun 22, 2009 | Fitch | B+ | Positive | B+ | Stable | |
| Dec 04, 2008 | S&P | NR | B+ | 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 |
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 Cape Verde’s current credit rating?
Cape Verde’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 Cape Verde’s credit risk.
Has Cape Verde’s credit rating changed recently?
This page lists the latest rating and outlook actions for Cape Verde, showing when each agency last reviewed or changed its assessment.
Why does Cape Verde’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Cape Verde's bond yields, currency, and equity flows as investors reassess risk.
How does Cape Verde’s rating compare to other countries?
You can explore how Cape Verde 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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