Andorra Credit Ratings & Outlooks

Paese	Moody's	S&P	Fitch	DBRS	Scope Ratings
Andorra	Baa1 Positive	A- Stable	A- Stable	NR	NR

Storico del rating sul credito

Paese	Date of Change	Agenzie di rating	Rating precedente	Outlook precedente	Rating attuale	Current Outlook
Andorra	gen 23, 2026	Moody's	Baa1	Stable	Baa1	Positive
Andorra	mag 09, 2025	S&P	BBB+	Positive	A-	Stable
Andorra	gen 19, 2024	Moody's	Baa2	Stable	Baa1	Stable
Andorra	mag 12, 2023	S&P	BBB+	Stable	BBB+	Positive
Andorra	lug 15, 2022	S&P	BBB	Positive	BBB+	Stable
Andorra	lug 08, 2022	Fitch	BBB+	Positive	A-	Stable
Andorra	feb 04, 2022	Moody's	NR		Baa2	Stable
Andorra	gen 14, 2022	Fitch	BBB+	Stable	BBB+	Positive
Andorra	gen 14, 2022	S&P	BBB	Stable	BBB	Positive
Andorra	apr 24, 2020	S&P	BBB	Positive	BBB	Stable
Andorra	lug 19, 2019	S&P	BBB	Stable	BBB	Positive
Andorra	ago 10, 2018	Fitch	BBB	Positive	BBB+	Stable
Andorra	lug 28, 2017	S&P	BBB-	Stable	BBB	Stable
Andorra	feb 24, 2017	Fitch	BBB	Stable	BBB	Positive
Andorra	lug 29, 2016	S&P	BBB-	Negative	BBB-	Stable
Andorra	set 11, 2015	Fitch	NR		BBB	Stable
Andorra	giu 24, 2015	S&P	BBB-	Negative Watch	BBB-	Negative
Andorra	mar 27, 2015	S&P	BBB	Negative Watch	BBB-	Negative Watch
Andorra	mar 12, 2015	S&P	BBB+	Stable	BBB	Negative Watch
Andorra	ott 03, 2014	S&P	A-	Negative	BBB+	Stable

Legenda della tabella

Voto	Moody's	S&P	Fitch	DBRS	Scope Ratings
Ottimo	Aaa	AAA	AAA	AAA	AAA
Voto elevato	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Voto medio alto	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Voto medio-basso	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Speculativo non adatto come investimento	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 con scarse prospettive di ripresa		CD	RD	RD
In default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Non classificato.	NR	NR	NR	NR	NR

FAQ

What is Andorra’s current credit rating?

Andorra’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 Andorra’s credit risk.

Has Andorra’s credit rating changed recently?

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

Why does Andorra’s credit rating matter to investors?

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

How does Andorra’s rating compare to other countries?

You can explore how Andorra 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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