Serbia Wins First Ever Investment Rating as S&P Lifts Bonds
- Fitch and Moody’s both have positive outlooks on Serbia’s debt
- Serbian FX bonds have outperformed EM peers in past months
Belgrade, Serbia.
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
Serbia’s sovereign credit score was upgraded by S&P Global Ratings, lifting its foreign-currency bonds out of junk status and starting the country’s transformation to an investment grade issuer.
S&P moved Serbia’s long-term sovereign rating one notch higher to BBB- from BB+, according to a statement Friday. The outlook is stable. The ratings company now ranks Serbia’s credit worthiness at the same level as Hungary’s and Romania’s and one notch below that of Mexico.