# Credit rating assessments for Croatia

> Live situation record from CLSTR: https://clstr.news/situations/credit-rating-assessments-for-croatia
> Updated: 2026-10-10T16:32:04.000Z. Sources: 18. Developments: 4.

Moody’s has affirmed Croatia’s credit rating at ‘A3’ with a stable outlook, citing strong institutions, effective governance, and robust economic growth. The agency noted the successful implementation of the National Recovery and Resilience Plan, which has already seen the country receive €7.3 billion from Brussels, with a final request for €2.7 billion pending.

Despite the affirmation, analysts identified several economic vulnerabilities. These include a high concentration in the tourism sector, which leaves the economy exposed to fluctuations in external demand, and potential fiscal pressure from increased spending on defense, pensions, and social welfare. While public debt is expected to stabilize near 56 percent of GDP by the end of 2027, it may gradually rise toward 60 percent.

Government officials have expressed confidence in these ratings, with Prime Minister Andrej Plenković stating the decision confirms effective measures to ensure economic resilience. Additionally, the Governor of the Croatian National Bank indicated that the country is expected to avoid recession, provided productivity increases even under unfavorable energy price scenarios.

## Timeline

### 2026-10-10: Croatia maintains A3 credit rating with stable outlook

Moody’s has affirmed Croatia’s A3 credit rating with a stable outlook, citing strong institutions and fiscal stability despite risks related to public debt and tourism dependency.

4 sources. https://clstr.news/cluster/croatia-maintains-a3-credit-rating-with-stable-outlook

### 2026-10-08: Moody's affirms Croatia's A3 credit rating with stable outlook

Moody's affirmed Croatia's 'A3' credit rating with a stable outlook, citing strong institutions and growth, while warning of economic risks stemming from a heavy reliance on tourism.

10 sources. https://clstr.news/cluster/croatia-receives-a3-credit-rating-affirmation-from-moodys

### 2026-09-29: Czech Republic credit rating outlook upgraded to positive by S&P

Standard & Poor's has upgraded the Czech Republic's credit rating outlook to positive, though high interest rates on government bonds remain a significant fiscal factor.

2 sources. https://clstr.news/cluster/czech-republic-credit-rating-outlook-upgraded-to-positive-by-sp

### 2026-09-11: Slovakia maintains ‘A’ credit rating from Morningstar DBRS

Morningstar DBRS has maintained Slovakia’s credit rating at ‘A (low)’ with a stable outlook, citing solid macroeconomic indicators and a healthy public debt profile despite regional economic challenges.

4 sources. https://clstr.news/cluster/slovakia-maintains-a-credit-rating-from-morningstar-dbrs

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Cite as: Credit rating assessments for Croatia. CLSTR, https://clstr.news/situations/credit-rating-assessments-for-croatia