The Community of Madrid has reached the highest credit rating available to Spain’s autonomous communities, according to the five leading international agencies: Standard & Poor’s, Moody’s, Fitch, DBRS and Scope. Scope Ratings was the latest to upgrade Madrid, assigning it A+ with a stable outlook.
This level is capped by Spain’s sovereign rating: an autonomous community cannot be rated above the state.
Scope’s assessment
Scope gave Madrid’s standalone credit profile 84 points out of 100, ranking it above those of other autonomous communities. The agency highlighted the region’s wealthy and diversified economy, established access to capital markets, favourable debt profile, strong liquidity reserves and sound public finances.
According to Scope, Madrid’s debt continues to decline and remains below the average for Spain’s autonomous communities. The agency also noted the region’s administrative capacity and record of prudent financial management.
Economic and employment indicators
In 2024, Madrid’s GDP per capita was 37% above the national average. At the end of 2025, the unemployment rate stood at 7%. Scope also cited population and labour-market growth as factors supporting the region’s social profile.
Madrid also attracts international business. Read more in our article on foreign investment in Madrid.
The region meets its financing needs through capital markets and bank borrowing, without using the liquidity mechanisms provided by the central government.
