Fitch Ratings has upgraded the credit rating assigned to the Maldives today.

In its latest assessment, Fitch raised the Maldives' credit rating from "CC" to the next higher tier of "CCC-".

The Maldives had previously been downgraded from a "CCC+" rating in June 2024 to "CC" in August of that year, a tier that Fitch maintained throughout 2025. The rating agency had lowered and held the rating due to the Maldives' high debt and default risks, with Fitch's previous reports specifically highlighting the USD 524.68 million sukuk payment that was due for repayment in April this year.

Fitch revealed today that despite global market volatilities, the Maldivian economy is projected to grow robustly in the medium term. The agency highlighted positive developments in the tourism sector, investments in newly opening resorts, and infrastructure developments related to tourism as the primary drivers of this growth.

Although the country may face near-term challenges stemming from global energy market shocks and instability in the Middle East, Fitch forecasts that the Maldives' economic growth will hover at 4.5 percent until 2027.

The Ministry of Finance stated that the rating upgrade amidst international challenges reflects the strength of the Maldivian economy. The ministry added that the government's strategic investments in transport and infrastructure have laid the foundation for sustainable growth.

According to the ministry, the government's core policy focuses on expanding opportunities for private sector investments and boosting economic capacity. Finance further emphasized that while maintaining macroeconomic stability, the government will prioritize investing in productive infrastructure to ensure that economic growth remains inclusive and robust.