Economy: Suriname
Published Tuesday, 10 November 2026 · Source: S&P Global Ratings announcement of 9 November 2026, as published by the Government of Suriname
S&P Global Ratings has raised Suriname’s credit rating one notch to B- from CCC+, citing gold revenue and oil still to come. The upgrade was announced on Monday 9 November 2026, with a stable outlook.
A credit rating is a letter grade for how likely a government is to repay its debts. B- is still a speculative, or “junk”, grade, but it sits one step above the CCC+ level Suriname held before.
Key Facts
- What. S&P raised Suriname’s long-term rating from CCC+ to B-, outlook stable; short-term C to B.
- Date. The agency announced the upgrade on Monday 9 November 2026.
- Why. Higher gold revenue and output, better debt management and expected offshore oil from mid-2028.
- Grade. B- remains below investment grade, the level seen as safe for cautious investors.
What S&P Changed
S&P Global Ratings, a US credit-rating agency, lifted Suriname’s long-term rating to B- from CCC+ and its short-term rating to B from C, according to the Government of Suriname. The government says the outlook was kept stable, which means S&P does not signal a further change soon.
The government’s announcement says the upgrade reflects high gold prices, rising gold output and better debt management. It also points to the offshore oil expected to start around mid-2028.
Gold Now, Oil Later
Offshore oil from GranMorgu, an offshore project developed by France’s TotalEnergies, Houston-based APA Corporation and Suriname’s state oil company Staatsolie, is expected to begin around mid-2028. Until then, the government’s summary credits gold as the main source of extra income.
What the Forecasts Say
The government’s summary says S&P expects economic growth to average 4.1% a year in 2026 and 2027. For 2028 and 2029, as oil output starts, it projects growth averaging 36% a year, from a small economic base.
In plain English
A rating upgrade means a rating agency now sees a lower chance that a borrower will miss payments. “Investment grade” is the level that cautious investors, such as many pension funds, are allowed to hold.
What It Means for You
For US investors, the upgrade lowers the perceived risk on Suriname’s debt, though B- remains speculative grade. Houston-based APA is one of the GranMorgu developers, so the project timetable matters to its shareholders.
For residents and expats, a better rating can ease the state’s borrowing costs over time. Our reports on Suriname’s fuel subsidy and on the plan to stop oil money pushing up prices, plus our Suriname news hub, give the local context.
What Is Not Known
It is not known whether other rating agencies will follow S&P’s move. The government’s summary does not list the risks S&P names, and oil must still start on schedule around mid-2028.
Frequently Asked Questions
What is Suriname’s new S&P rating?
It is B- long term with a stable outlook, up from CCC+, announced on 9 November 2026. The short-term rating is now B.
Is B- investment grade?
No. It is a speculative grade, often called junk, but it is one step above the CCC+ Suriname held before.
Why did S&P upgrade Suriname?
The government cites high gold prices, rising gold output and better debt management. It also points to offshore oil expected from mid-2028.
When will Suriname’s oil start?
Production from the GranMorgu project is expected around mid-2028. The developers are TotalEnergies, APA and Staatsolie.
Sources: S&P Global Ratings, Suriname upgrade of 9 November 2026; Government of Suriname, announcement of the upgrade, 9 November 2026.
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