Rating: Croatia Credit Rating 2025

Rating Moody's Croatia

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
2024-11-08	A3 (Stable)
2023-11-10	Baa2 (Positive)
2022-07-15	Baa2 (Stable)
2022-06-24	(Under Review)	2024-11-08	A3
2020-11-13	Ba1 (Stable)	2023-11-10	Baa2
2019-04-26	Ba2 (Positive)	2022-07-15	Baa2
2017-03-10	Ba2 (Stable)	2020-11-13	Ba1
2016-03-11	Ba2 (Negative)	2019-04-26	Ba2
2014-03-21	Ba1 (Negative)	2017-03-10	Ba2
2013-02-01	Ba1 (Stable)	2016-03-11	Ba2
2012-05-31	(Negative)	2014-03-21	Ba1
2008-11-19	(Stable)	2013-02-01	Ba1
2007-07-18	(Positive)	2009-04-17	Baa3
2003-11-15	(Stable)	2008-11-19	Baa2
1997-01-17	Baa3	1999-03-02	Baa1

Moody's: Long term Rating

Rating S&P Croatia

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
2024-09-13	A- (Positive)
2023-09-15	BBB+ (Positive)
2022-07-14	BBB+ (Stable)
2019-03-22	BBB- (Stable)
2018-09-21	(Positive)
2018-03-23	BB+ (Stable)	2024-09-13	A-
2017-09-22	(Positive)	2023-09-15	BBB+
2016-12-16	(Stable)	2022-07-14	BBB+
2015-07-17	(Negative)	2019-03-22	BBB-
2014-01-24	BB (Stable)	2018-03-23	BB+	2022-07-14	A-2	2022-07-14	A-2
2013-08-02	(Negative)	2014-01-24	BB	2019-03-22	A-3	2019-03-22	A-3
2012-12-14	BB+ (Stable)	2012-12-14	BB+	2012-12-14	B	2012-12-14	B
2010-12-21	BBB- (Negative)	2010-12-21	BBB-	1997-01-17	A-3	2009-03-16	A-3

S&P: Long term Rating

Rating Fitch Croatia

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
		2022-07-13	BBB+
		2021-11-12	BBB	2022-07-13	F1
		2020-04-01	BBB-	2021-11-12	F2
2022-07-13	BBB+ (Stable)	2019-12-06	BBB-	2020-04-01	F3
2021-11-12	BBB (Positive)	2019-06-07	BBB-	2019-12-06	F3
2020-04-01	BBB-	2018-12-07	BB+	2019-06-07	F3
2019-12-06	BBB-	2018-07-06	BB+	2018-12-07	B
2019-06-07	BBB-	2018-01-12	BB+	2018-07-06	B
2018-12-07	BB+	2017-07-14	BB	2018-01-12	B
2018-07-06	BB+ (Positive)	2017-01-27	BB	2017-07-14	B
2018-01-12	BB+ (Stable)	2016-07-29	BB	2017-01-27	B
2017-07-14	BB (Stable)	2016-07-22	BB	2016-07-29	B
2017-01-27	BB (Stable)	2016-01-29	BB+	2016-07-22	B
2016-07-29	BB (Negative)	2015-07-31	BB+	2016-01-29	B
2016-07-22	BB (Negative)	2015-02-06	BB+	2015-07-31	B
2016-01-29	BB (Negative)	2014-09-22	BB+	2015-02-06	B
2015-07-31	BB	2014-09-09	BB+	2014-09-22	B
2015-02-06	BB	2014-08-08	BB+	2014-09-09	B
2014-09-22	BB (Stable)	2014-07-24	BBB-	2014-08-08	B
2014-09-09	BB (Stable)	2014-07-04	BBB-	2014-07-24	B
2014-08-08	BB (Stable)	2014-06-25	BBB-	2014-07-04	B
2014-07-24	BB+ (Negative)	2014-05-30	BBB-	2014-06-25	B
2014-07-04	BB+ (Negative)	2014-05-23	BBB-	2014-05-30	B
2014-06-25	BB+ (Negative)	2014-05-09	BBB-	2014-05-23	B
2014-05-30	BB+ (Negative)	2014-04-11	BBB-	2014-05-09	B
2014-05-23	BB+ (Negative)	2014-04-04	BBB-	2014-04-11	B
2014-05-09	BB+ (Negative)	2014-03-28	BBB-	2014-04-04	B
2014-04-11	BB+ (Negative)	2014-03-07	BBB-	2014-03-28	B
2014-04-04	BB+ (Negative)	2014-02-14	BBB-	2014-03-07	B
2014-03-28	BB+ (Negative)	2014-01-31	BBB-	2014-02-14	B
2014-03-07	BB+ (Negative)	2014-01-22	BBB-	2014-01-31	B
2014-02-14	BB+ (Negative)	2014-01-09	BBB-	2014-01-22	B
2014-01-31	BB+ (Stable)	2013-12-18	BBB-	2014-01-09	B
2014-01-22	BB+ (Stable)	2013-12-13	BBB-	2013-12-18	B
2014-01-09	BB+ (Stable)	2013-11-25	BBB-	2013-12-13	B
2013-12-18	BB+ (Stable)	2013-10-31	BBB-	2013-11-25	B
2013-12-13	BB+ (Stable)	2013-10-14	BBB-	2013-10-31	B
2013-11-25	BB+ (Stable)	2013-10-01	BBB-	2013-10-14	B
2013-10-31	BB+ (Stable)	2013-09-20	BBB-	2013-10-01	B
2013-10-14	BB+ (Stable)	2013-07-29	BBB	2013-09-20	B
2013-10-01	BB+ (Stable)	2013-06-24	BBB	2013-07-29	F3
2013-09-20	BB+ (Stable)	2013-05-30	BBB	2013-06-24	F3
2013-07-29	BBB- (Negative)	2013-05-14	BBB	2013-05-30	F3
2013-06-24	BBB- (Negative)	2013-03-08	BBB	2013-05-14	F3
2013-05-30	BBB- (Negative)	2013-02-28	BBB	2013-03-08	F3
2013-05-14	BBB- (Negative)	2012-11-29	BBB	2013-02-28	F3
2013-03-08	BBB- (Negative)	2012-10-22	BBB	2012-11-29	F3
2012-11-29	BBB- (Negative)	2012-09-27	BBB	2012-10-22	F3
2012-08-17	BBB- (Negative)	2012-08-17	BBB	2012-09-27	F3
2012-07-11	BBB- (Negative)	2012-07-11	BBB	2012-08-17	F3
2012-05-03	BBB- (Negative)	2012-05-03	BBB	2012-07-11	F3
2012-03-05	BBB- (Negative)	2012-03-05	BBB	2012-05-03	F3
2012-02-14	BBB- (Negative)	2012-02-14	BBB	2012-03-05	F3
2012-01-18	BBB- (Negative)	2012-01-18	BBB	2012-02-14	F3
2011-12-20	BBB- (Negative)	2011-12-20	BBB	2012-01-18	F3
2011-11-09	BBB- (Negative)	2011-11-09	BBB	2011-12-20	F3
2011-07-05	BBB- (Negative)	2011-07-05	BBB	2011-11-09	F3
2009-05-21	BBB- (Negative)	2009-05-21	BBB	2011-07-05	F3
2005-07-06	BBB- (Stable)	2005-07-06	BBB+	2009-05-21	F3	2022-07-13	F1
2003-07-08	BBB- (Positive)	2003-07-08	BBB+	2005-07-06	F3	2021-11-12	F2
2001-06-28	BBB- (Stable)	2001-06-28	BBB+	2003-07-08	F3	2020-04-01	F3
2000-09-21	BB+ (Positive)	2000-09-21	BBB	2001-06-28	F3	2019-12-06	F3
1999-04-29	BB+	1999-04-29	BBB	2000-09-21	B	2019-06-07	F3
1997-01-17	BBB-	1997-01-17	A-	1999-04-29	B	2018-12-07	B
0000-00-00	A- (Stable)	0000-00-00	A-	1997-01-17	F3	2018-07-06	B

Fitch: Long term Rating

Grade	Moody's	S&P	Fitch
Prime	Aaa	AAA	AAA
High grade	Aa1	AA+	AA+
	Aa2	AA	AA
	Aa3	AA-	AA-
Upper medium grade	A1	A+	A+
	A2	A	A
	A3	A-	A-
Lower medium grade	Baa1	BBB+	BBB+
	Baa2	BBB	BBB
	Baa3	BBB-	BBB-
Non-investment grade speculative	Ba1	BB+	BB+
	Ba2	BB	BB
	Ba3	BB-	BB-
Highly speculative	B1	B+	B+
	B2	B	B
	B3	B-	B-
Substantial risks	Caa1	CCC+	CCC+
	Caa2	CCC	CCC
	Caa3	CCC-	CCC-
Extremely speculative	Ca	CC	CC
Extremely speculative			C
In default with little prospect for recovery		SD	RD
In default	C	D	D
			DD
			DDD
Not rated	WR	NR

Grade	Moodys	S&P	Fitch
High grade	P-1	A-1+	F1+
Upper medium grade	P-1	A-1	F1
Lower medium grade	P-2	A-2	F2
Non-investment grade speculative	P-3	A-3	F3
Highly speculative		B	B
Extremely speculative	NP	C	C