Moody's maintains Maldives rating at Caa2

Global credit rating agency Moody’s has maintained the Maldives’ credit rating at Caa2, acknowledging the government’s ongoing financial and economic reforms aimed at stabilizing the country’s economy.

In September last year, Moody’s downgraded the Maldives’ rating from Caa1 to Caa2, citing heightened default risks due to persistently low foreign exchange reserves and limited prospects for a quick recovery.