The Ministry of Finance reports that, following its annual reviews, S&P Global Ratings affirmed Chile's credit rating at A, with a "stable" outlook. Moody's also confirmed Chile's A2 rating, also with a "stable" outlook.

The decisions of both agencies are based on the country's institutional strength, the consistency of its fiscal and monetary frameworks, and a moderate debt profile compared to international standards.

S&P projects that general government’s net debt will stabilize around 37% of GDP between 2025 and 2028, in a context of economic growth and fiscal consolidation. The agency forecasts GDP growth of 2.5% in 2025 and an average of 2.2% in 2026-2028, driven by investment and exports. The agency also estimates a rate of inflation of 3% in 2026, highlighting the role of the Central Bank and the resilience of the Chilean financial system.

Furthermore, S&P expects that foreign direct investment will be able to fully finance current account deficits, under a scenario of favorable copper prices and continued project implementation, supported by the Central Bank's reserve accumulation program. The rating agency also highlights recent institutional advances, including the Pension Reform, the Tax Compliance Law, and adjustments to the Fiscal Responsibility Law.

For its part, Moody's anticipates that Chilean fiscal consolidation will continue in the coming years, anchored in the fiscal framework, and that this will be sufficient to keep debt below the prudent threshold of 45% of GDP. The agency estimates     real GDP growth of around 2.5% this year and next, supported by higher investment and exports.

Minister of Finance, Nicolás Grau, valued the rating agencies' decision, stating that "the ratification of the credit rating by these two agencies leaves us in a very good position to address the fiscal budget law process, because it reflects our country's fiscal strength. We have said this before: if anyone has doubts about Chile's fiscal policy, just review what the rating agencies are reporting. This was also conveyed to us in the meetings we held with them during the annual meetings of the World Bank and the International Monetary Fund. In these four years, public debt will register its lowest growth since President Bachelet's first administration, and that is something the international market views positively."

The reaffirmations by both agencies consolidate Chile's credit standing within the "A" investment grade range, comparable to countries such as Lithuania, Latvia, and Israel, according to S&P, and similar to Lithuania and Poland, according to Moody's. In both cases, Chile remains above most economies in the Latin American region.