Agency Ratings

Long-term ratings are opinions given by specialized rating agencies about the relative credit risk of a company related to its financial obligations.

Ambev was the first brazilian company to obtain the Investment Grade status in foreign currency, by the agencies Standard & Poor´s and Fitch.

The table below shows Ambev´s ratings, according to 2 different agencies.

Agency Local Currency Rating Foreign Currency Rating National Scale Outlook Last update
S&P BBB+ BBB+ brAAA Stable Dez/23
Moody´s Baa3 Baa3 Stable Nov/23


S&P Moody´s
AA+ Aa1
AA Aa2
AA- Aa3
A+ A1
A A2
A- A3
BBB+ Baa1
BBB Baa2
BBB- Baa3
BB+ Ba1
BB Ba2
BB- Ba3
B+ B1
B B2
B- B3
CCC+ Caa1
CCC Caa2
CCC- Caa3