Fitch affirms Moldova at B+ with a stable outlook

International rating agency Fitch affirmed Moldova's long-term foreign currency issuer default rating (IDR) at B+ with a stable outlook on March 7, balancing the relatively low public debt and relatively high GDP per capita against the geopolitical risks due to the war in neighboring Ukraine and a structurally weak external position (current account gap, debt).

The rating agency notes that Moldova's pro-European government has benefited from continued financial and technical support since 2021.

Fitch has resumed the evaluation of Moldova after a 15-year hiatus, assigning a highly speculative rating (B+), with a stable outlook, to the country's long-term foreign currency sovereign debt. Fitch is the only one of the three major rating agencies to evaluate Moldova.

Parliamentary elections are scheduled to take place by July 2025, and the risk of interference from external actors is high, the rating agency notes, reminding the tight outcome of the presidential elections and the EU membership referendum last autumn.

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