Sovereign rating
Rwanda: B+: a weak rating, highly speculative
Rwanda is no. 12 of the 34 African countries rated, in the middle of the African ranking. The country pays its debts, but a shock (commodity prices, a political crisis) could stop it. Borrowing is expensive.
- Category
- Highly speculative (B)
- In Africa
- no. 12 of 34
- Trend
- Stable
4 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 Rwanda
| Date | Agency | Decision | Rating | Outlook | Source |
|---|---|---|---|---|---|
| May 2026 | S&P | affirmed | B+ | stable outlook | financialafrik.com ↗ |
| 13 Mar 2026 | Fitch | outlook raised | B+ | stable outlook | africa-news-agency.com ↗ |
| 19 Sep 2025 | Moody's | outlook raised | B2 | stable outlook | newtimes.co.rw ↗ |
Questions
What is the credit rating of Rwanda?
S&P B+ · Moody's B2 · Fitch B+: weak rating, highly speculative (b), 4 notches below investment grade, no. 12 of 34 in Africa.