The UAE has secured sovereign credit ratings from all three of the world’s major rating agencies, reinforcing its position as a fiscally stable and investment-ready economy. S&P Global, Moody’s Investors Service, and Fitch Ratings each affirmed high ratings for the UAE in June 2025, citing the country’s solid fiscal discipline, external buffers, and economic resilience.
S&P assigned the UAE a sovereign rating of “AA” with a stable outlook on June 17, 2025. Moody’s followed by affirming its “Aa2” rating, also with a stable outlook, in its annual 2025 review. On June 24, Fitch confirmed its rating at “AA-,” maintaining a stable outlook. The three assessments align with the country’s strong financial position, fiscal surplus, and ability to manage both oil and non-oil economic sectors effectively.
Fitch noted that the UAE’s sovereign net foreign assets remain among the highest globally, at 157% of GDP, and that the country maintains a low fiscal breakeven oil price, enhancing its resilience. The agency projected real GDP growth of 5.2% in 2025, driven by higher oil production under OPEC+ agreements and continued expansion of the non-oil economy. It expects fiscal surpluses of 5.3% and 5.9% in 2025 and 2026 respectively, after a 7.1% surplus in 2024.
Moody’s highlighted the UAE’s continued efforts to expand non-oil revenue sources, strengthen foreign direct investment, and improve policy transparency. S&P echoed those views, pointing to the country’s consolidated government assets and low debt levels, while noting potential geopolitical risks in the region. However, it assessed the overall impact of regional tensions on the UAE to be limited, given its political stability and strong financial buffers.
The UAE Ministry of Finance welcomed the ratings, stating that they reflect the country’s strategic commitment to fiscal discipline, economic diversification, and sovereign debt market development. A key initiative has been the creation of a dirham-denominated sovereign yield curve, designed to increase transparency and provide a pricing benchmark for future issuances. This step is seen as critical to attracting a broader investor base and deepening domestic capital markets.
HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Finance, said the convergence of high ratings confirms international confidence in the UAE’s economic direction. He emphasised that the country’s financial strategy focuses on long-term sustainability, prudent risk management, and supporting productive sectors.
With all three major agencies maintaining strong sovereign ratings for the UAE, the country remains one of the few globally to achieve this level of consensus, bolstering its standing in international markets. The stable outlooks also reinforce the UAE’s ability to navigate global economic challenges while maintaining investor trust and economic momentum.
