Sovereign rating
Ethiopia: C: a critical rating, default judged likely
Ethiopia is no. 34 of the 34 African countries rated, among the lowest rated in Africa. A default is under way or judged very likely: a debt restructuring with losses for creditors is expected.
- Category
- Default or near default
- In Africa
- no. 34 of 34
- Trend
- Stable
11 notches below investment grade
AfCRA
The African agency, launched on 7 October 2026, has not published a rating yet.
Long-term foreign-currency ratings, from the agencies' releases · verdict and common scale: Syli Atlas's reading of the agencies' categories · a rating is an opinion on credit risk, not investment advice
History
Decisions of the agencies for Ethiopia
| Date | Agency | Decision | Rating | Outlook | Source |
|---|---|---|---|---|---|
| Oct 2026 | Fitch | affirmed | RD | no outlook | capitalethiopia.com ↗ |
| Feb 2026 | Moody's | affirmed | Caa3 | stable outlook | shega.co ↗ |
| 15 Dec 2023 | S&P | default | SD | no outlook | news.frontierafricareports.com ↗ |
Questions
What is the credit rating of Ethiopia?
S&P SD · Moody's Caa3 · Fitch RD: critical rating, default or near default, 11 notches below investment grade, no. 34 of 34 in Africa.