Sovereign rating
Madagascar: B−: a weak rating, highly speculative
Madagascar is no. 23 of the 34 African countries rated, among the lowest rated in Africa. The country pays its debts, but a shock (commodity prices, a political crisis) could stop it. Borrowing is expensive.
Weak rating
B−
- Category
- Highly speculative (B)
- In Africa
- no. 23 of 34
- Trend
- Stable
Madagascar · B−
6 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 Madagascar
| Date | Agency | Decision | Rating | Outlook | Source |
|---|---|---|---|---|---|
| Jul 2026 | S&P | affirmed | B− | stable outlook | lexpress.mg ↗ |
Questions
What is the credit rating of Madagascar?
S&P B−: weak rating, highly speculative (b), 6 notches below investment grade, no. 23 of 34 in Africa.