The Republic of Moldova has recorded significant progress in its international credit assessment, following the decision by Moody’s Ratings to upgrade the country’s rating from B3 to B2, with a stable outlook. This development reflects the strengthening of institutional capacity and the concrete results of implemented reforms, including in the energy sector.

According to the agency, the authorities have demonstrated a solid ability to respond to the multiple energy shocks that the Republic of Moldova has faced in recent years. In particular, following Russia’s invasion of Ukraine in 2022, the authorities reoriented the country’s energy supply, moving away from its traditional dependence on Russia and the Russia-backed separatist region of Transnistria, toward imports from EU markets and domestic energy production from renewable sources.

“These efforts have also contributed to the overall strengthening of Moldova’s energy security and have eliminated a key source of risk and a potential lever of influence for Russia and Transnistria over the Republic of Moldova,” the Moody’s statement says.

“The upgrade of the country rating is a clear recognition of the sustained efforts of state institutions and our development partners. The energy sector has been at the center of these transformations—from dependence to diversification, from vulnerability to resilience. Moreover, a higher country rating will facilitate financing for new investments, including in the energy sector,” said Energy Minister Dorin Junghietu.

However, the agency notes that despite the progress, the Republic of Moldova remains exposed to geopolitical risks and economic challenges, underscoring the importance of continuing structural reforms and investments in critical infrastructure. Thus, the Ministry of Energy will continue implementing reforms and strategic projects aimed at strengthening energy security, accelerating the transition to clean energy, and supporting the full integration of the Republic of Moldova into the European energy market.