Fitch upgrades Maldives’ credit rating amid global and geopolitical challenges

Fitch Ratings upgraded Maldives' Long-Term Foreign-Currency IDR to 'CCC-' from 'CC', citing reduced default risks after the successful repayment of a USD 500 million sovereign sukuk in April 2026 and improved economic outlook despite global challenges. The upgrade reflects resilience supported by a strong tourism sector and ongoing reforms. Fitch projects economic growth of about 4.5% annually through 2027, driven by tourism expansion and infrastructure investments. However, Fitch cautioned that the Maldives continues to face significant external and fiscal vulnerabilities.

Fitch Ratings upgraded Maldives' Long-Term Foreign-Currency IDR to 'CCC-' from 'CC', citing reduced default risks after the successful repayment of a USD 500 million sovereign sukuk in April 2026 and improved economic outlook despite global challenges. The upgrade reflects resilience supported by a strong tourism sector and ongoing reforms. Fitch projects economic growth of about 4.5% annually through 2027, driven by tourism expansion and infrastructure investments. However, Fitch cautioned that the Maldives continues to face significant external and fiscal vulnerabilities.

Fitch Ratings upgraded Maldives' Long-Term Foreign-Currency IDR to 'CCC-' from 'CC', citing reduced default risks after the successful repayment of a USD 500 million sovereign sukuk in April 2026 and improved economic outlook despite global challenges. The upgrade reflects resilience supported by a strong tourism sector and ongoing reforms. Fitch projects economic growth of about 4.5% annually through 2027, driven by tourism expansion and infrastructure investments. However, Fitch cautioned that the Maldives continues to face significant external and fiscal vulnerabilities.

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