Fitch Upgrades Seychelles Sovereign Rating to ‘BB’ with Stable Outlook
VICTORIA, Seychelles — The Office of the President has announced that Fitch Ratings has upgraded Seychelles’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BB-‘, with a Stable Outlook.
In a statement issued on Saturday, the Office of the President said this marks an important milestone in the country’s ongoing efforts to strengthen its economic resilience and fiscal position. The upgrade reflects sustained macroeconomic discipline, debt reduction and structural reforms that have positioned the country for stronger growth, even as global headwinds persist.
The ‘BB’ rating places Seychelles one notch closer to investment grade and is expected to lower the country’s cost of borrowing on international markets, while signalling renewed confidence to investors, multilateral lenders and trading partners. The Stable Outlook indicates that Fitch expects the gains to be preserved over the medium term, provided the government continues its planned fiscal consolidation and reform agenda.
The President welcomed the news and reiterated the government’s commitment to prudent economic management, debt sustainability and inclusive growth. The Ministry of Finance is expected to provide further details on the implications of the upgrade for the upcoming budget and for Seychelles’ engagement with international financial institutions.
