S&P Global Ratings cut Montenegro's sovereign credit rating outlook to ‘B’ from ‘B+’ and assigned a stable outlook on March 5th 2021, citing as the main trigger behind the downgrade a deterioration in the country's fiscal accounts and external position amid the pandemic crisis. The agency said it estimates that Montenegro's tourism-based economy contracted 15.5% in 2020 and its balance-of-payments and fiscal positions weakened in tandem, with tourism-sector recovery expected to be only gradual based on global vaccination progress. Moody's credit rating for Montenegro was last set at B1 with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Montenegro thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Montenegro as reported by major credit rating agencies.

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