List of countries by credit rating

Parts of this article seem to be out of date as of February 2019 / October 2018 .
Please help to research and insert the missing information .

The following lists give countries according to their credit rating on long-term government bonds . The ratings of the three largest US rating agencies Standard & Poor’s , Moody’s and Fitch Ratings are listed and, as an alternative, the credit ratings of the Chinese Dagong Global Credit . Rating agencies evaluate u. A. Budgetary management, debt levels and the overall economic situation of a central government and assign them a grade that determines their creditworthiness. The rating of a country determines the conditions under which the state can borrow money.

Meaning of notes

Standard & Poor’s and Fitch Ratings use the following credit ratings ("rating codes"), which do not differ significantly from the assessment criteria of most other rating agencies:

Conditioning Worthy (English investment grade )

• AAA: Reliable and stable debtors, top quality
• AA: Good debtors, slightly higher risk than AAA
• A: The overall economic situation must be taken into account
• BBB: Medium-quality debtors who are currently acting satisfactorily

Speculative (English non-investment grade or speculative )

• BB: Very dependent on the overall economic situation
• B: The financial situation is notoriously changeable
• CCC: Speculative, low debtor income
• CC: like CCC
• C: like CCC
• CI: outstanding interest payments
• SD: Payment default in some areas
• R: under regulatory supervision, possibly selective late payment / default in the future
• D: in default of payment
• NR: Not rated ( english rated not )

The rating codes from AA to CCC can be modified by adding the characters + or - to indicate a finer gradation within a credit rating; Example: AA + and AA− .

These credit ratings are intended for the consideration of rather long-term investments; There is a shortened second scale for short deadlines. The short-term outlook is also given, which can be negative, stable or positive. In the event of default there is no longer any outlook.

Country credit ratings

Standard & Poor's credit ratings (as of August 2018)

Standard & Poor's

Countries according to the credit rating of the rating agency Standard and Poor's. All information applies to February 2019.

country	Rating	outlook	Last change
Australia	AAA	Stable	2018/09
Denmark	AAA	Stable	2001/02
Germany	AAA	Stable	2012/01
Canada	AAA	Stable	2002/07
Liechtenstein	AAA	Stable	2016/02
Luxembourg	AAA	Stable	2013/01
Netherlands	AAA	Stable	2015/01
Norway	AAA	Stable	1990/11
Sweden	AAA	Stable	2004/02
Switzerland	AAA	Stable	1989/02
Singapore	AAA	Stable	1995/03
Finland	AA +	Stable	2016/09
Hong Kong	AA +	Stable	2017/09
Austria	AA +	Stable	2013/01
United States	AA +	Stable	2013/09
Abu Dhabi	AA	negative	2012/02
Belgium	AA	Stable	2018/04
European Union	AA	Stable	2016/06
France	AA	Stable	2016/10
Kuwait	AA	Stable	2011/07
New Zealand	AA	positive	2019/01
South Korea	AA	Stable	2016/08
Estonia	AA−	Stable	2012/10
guernsey	AA−	Stable	2016/07
Israel	AA−	Stable	2018/08
jersey	AA−	Stable	2016/07
Qatar	AA−	negative	2017/03
Taiwan	AA−	Stable	2010/06
Czech Republic	AA−	Stable	2011/08
United Kingdom	AA−	negative	2020/03
Bermuda	A +	positive	2018/04
Chile	A +	Stable	2017/07
People's Republic of China	A +	Stable	2017/09
Ireland	A +	Stable	2015/06
Japan	A +	positive	2018/04
Slovakia	A +	Stable	2015/07
Slovenia	A +	positive	2018/07
Lithuania	A.	Stable	2018/03
Iceland	A.	Stable	2017/10
Ras al-Khaimah	A.	Stable	2014/10
Botswana	A−	Stable	2016/04
Curacao	A−	Stable	2013/06
Latvia	A−	Stable	2014/05
Malaysia	A−	Stable	2008/05
Malta	A−	Stable	2016/10
Poland	A−	Stable	2018/10
Saudi Arabia	A−	Stable	2016/02
Spain	A−	positive	2018/03
Aruba	BBB +	positive	2016/06
Mexico	BBB +	negative	2016/08
Peru	BBB +	Stable	2013/08
Sharjah	BBB +	Stable	2017/01
Thailand	BBB +	Stable	2010/12
Trinidad and Tobago	BBB +	negative	2018/04
Turks and Caicos Islands	BBB +	Stable	2014/07
Italy	BBB	negative	2018/10
Colombia	BBB	negative	2016/02
Panama	BBB	positive	2018/07
Philippines	BBB	positive	2018/05
Hungary	BBB	Stable	2019/02
Uruguay	BBB	Stable	2017/05
Andorra	BBB−	Stable	2016/07
Bulgaria	BBB−	positive	2018/07
India	BBB−	Stable	2016/09
Indonesia	BBB−	Stable	2017/05
Kazakhstan	BBB−	negative	2016/02
Montserrat	BBB−	Stable	2011/09
Morocco	BBB−	negative	2018/10
Portugal	BBB−	positive	2018/09
Romania	BBB−	Stable	2014/05
Russia	BBB−	Stable	2018/02
Cyprus	BBB−	Stable	2018/09
Azerbaijan	BB +	negative	2016/07
Bahamas	BB +	Stable	2016/12
Croatia	BB +	positive	2018/09
South Africa	BB +	negative	2017/04
Bolivia	BB	Stable	2014/05
Oman	BB	Stable	2017/11
Paraguay	BB	Stable	2016/06
Serbia	BB	positive	2018/12
Bangladesh	BB−	Stable	2010/04
Brazil	BB−	Stable	2018/01
Dominican Republic	BB−	Stable	2015/05
Georgia	BB−	Stable	2011/11
Guatemala	BB−	negative	2017/10
North Macedonia	BB−	Stable	2013/05
Uzbekistan	BB−	Stable	2018/12
Vietnam	BB−	Stable	2012/06
Albania	B +	Stable	2012/02
Bahrain	B +	Stable	2017/12
Benin	B +	Stable	2018/07
Cook Islands	B +	Stable	2011/12
Costa Rica	B +	negative	2019/01
Fiji	B +	Stable	2015/05
Greece	B +	Stable	2018/07
Honduras	B +	positive	2016/07
Jordan	B +	Stable	2017/10
Kenya	B +	Stable	2016/10
Montenegro	B +	Stable	2017/10
Senegal	B +	positive	2018/07
Suriname	B +	negative	2016/04
Turkey	B +	Stable	2018/08
Ethiopia	B.	Stable	2014/05
Argentina	B.	Stable	2018/11
Bosnia and Herzegovina	B.	Stable	2012/03
Ghana	B.	Stable	2018/09
Jamaica	B.	positive	2018/09
Cambodia	B.	Stable	2011/10
Cameroon	B.	Stable	2012/02
Cape Verde	B.	negative	2016/10
Mongolia	B.	Stable	2018/11
Nigeria	B.	Stable	2016/09
Papua New Guinea	B.	Stable	2019/01
Rwanda	B.	positive	2018/08
Sri Lanka	B.	Stable	2018/12
Uganda	B.	Stable	2014/01
Egypt	B−	Stable	2016/11
Angola	B−	negative	2019/01
Belize	B−	Stable	2017/04
Burkina Faso	B−	positive	2016/05
Ecuador	B−	Stable	2017/06
El Salvador	B−	Stable	2018/12
Iraq	B−	Stable	2015/09
Republic of the Congo	B−	Stable	2018/09
Lebanon	B−	Stable	2016/09
Nicaragua	B−	Stable	2018/11
Pakistan	B−	negative	2019/02
Zambia	B−	negative	2018/08
Ukraine	B−	Stable	2015/10
Belarus	B−	Stable	2013/10
Dem. Rep. Congo	CCC +	negative	2017/08
Barbados	SD	negative	2018/07
Venezuela	SD	negative	2017/11
Mozambique	D.	-	2017/01
country	Rating	outlook	Last change

Fitch Ratings

Countries according to the credit rating of the rating agency Fitch Ratings. All information applies to February 2019.

country	Rating	outlook	Last change
Australia	AAA	Stable	2011/11
Denmark	AAA	Stable	2011/11
Germany	AAA	Stable	2011/11
Luxembourg	AAA	Stable	2011/11
Netherlands	AAA	Stable	2011/11
Norway	AAA	Stable	2011/11
Sweden	AAA	Stable	2011/11
Switzerland	AAA	Stable	2011/11
Singapore	AAA	Stable	2011/11
United States	AAA	Stable	2014/03
Bermuda	AA +	Stable	2011/11
Finland	AA +	Stable	2016/03
Hong Kong	AA +	Stable	2011/11
Canada	AA +	Stable	2020/06
Austria	AA +	Stable	2016/02
Abu Dhabi	AA	Stable	2011/11
Belgium	AA	Stable	2013/01
France	AA	Stable	2014/12
Kuwait	AA	Stable	2011/11
New Zealand	AA	Stable	2011/11
Saudi Arabia	AA	Stable	2014/03
Estonia	AA−	Stable	2018/10
South Korea	AA−	Stable	2012/09
Taiwan	AA−	Stable	2016/10
United Kingdom	AA−	negative	2020/03
People's Republic of China	A +	Stable	2011/11
Ireland	A +	Stable	2017/12
Israel	A +	Stable	2016/11
Malta	A +	Stable	2017/08
Slovakia	A +	Stable	2013/11
Czech Republic	A +	positive	2013/11
Chile	A.	Stable	2016/05
Iceland	A.	Stable	2017/12
Japan	A.	negative	2016/06
Latvia	A.	Stable	2018/09
Ras al-Khaimah	A.	Stable	2011/11
Lithuania	A−	Stable	2016/06
Malaysia	A−	Stable	2011/11
Poland	A−	Stable	2013/02
Slovenia	A−	Stable	2016/09
Spain	A−	Stable	2018/01
Mexico	BBB +	negative	2018/11
Peru	BBB +	Stable	2013/10
San Marino	BBB +	negative	2012/07
Thailand	BBB +	Stable	2013/03
Bulgaria	BBB	Stable	2017/11
Italy	BBB	negative	2018/09
Indonesia	BBB	Stable	2017/12
Kazakhstan	BBB	Stable	2016/11
Colombia	BBB	Stable	2013/12
Panama	BBB	Stable	2011/11
Philippines	BBB	Stable	2017/12
Portugal	BBB	Stable	2017/12
Hungary	BBB	Stable	2019/02
Aruba	BBB−	Stable	2016/04
India	BBB−	Stable	2013/06
Morocco	BBB−	Stable	2011/11
Romania	BBB−	Stable	2011/11
Russia	BBB−	Stable	2018/02
Uruguay	BBB−	negative	2018/10
Cyprus	BBB−	positive	2018/10
Azerbaijan	BB +	Stable	2018/02
Georgia	BB	Stable	2019/02
Croatia	BB +	positive	2018/07
Namibia	BB +	negative	2019/02
Oman	BB +	Stable	2018/12
Paraguay	BB +	Stable	2018/12
South Africa	BB +	Stable	2017/04
Brazil	BB	negative	2016/05
Guatemala	BB	Stable	2016/04
North Macedonia	BB	negative	2017/08
Serbia	BB	Stable	2017/12
Turkey	BB	negative	2018/07
Vietnam	BB	Stable	2018/05
Bolivia	BB−	Stable	2016/07
Bahrain	BB−	Stable	2018/04
Dominican Republic	BB−	Stable	2014/11
Greece	BB−	Stable	2018/08
Seychelles	BB−	Stable	2016/11
Suriname	BB−	Stable	2019/02
Tunisia	BB−	negative	2013/10
Uzbekistan	BB−	Stable	2018/12
Armenia	B +	Stable	2017/12
Costa Rica	B +	negative	2019/01
Ivory Coast	B +	Stable	2015/12
Jamaica	B +	Stable	2019/01
Kenya	B +	negative	2016/02
Lesotho	B +	Stable	2016/03
Nigeria	B +	negative	2016/04
Rwanda	B +	Stable	2015/11
Uganda	B +	Stable	2016/11
Ethiopia	B.	Stable	2015/10
Egypt	B.	Stable	2018/05
Angola	B.	Stable	2018/04
Argentina	B.	Stable	2016/05
Benin	B.	Stable	2011/11
Bosnia and Herzegovina	B.	Stable	2015/08
Gabon	B.	negative	2018/03
Ghana	B.	Stable	2017/05
Cameroon	B.	Stable	2011/11
Cape Verde	B.	Stable	2015/07
Mongolia	B.	Stable	2018/07
Sri Lanka	B.	Stable	2018/12
Ecuador	B−	Stable	2018/08
El Salvador	B−	Stable	2017/10
Lebanon	B−	Stable	2015/11
Nicaragua	B−	negative	2018/11
Pakistan	B−	negative	2018/12
Zambia	B−	negative	2018/10
Ukraine	B−	Stable	2016/11
Mozambique	CC	Stable	2016/05
Venezuela	C.	negative	2017/11
country	Rating	outlook	Last change

Moody's

European countries by Moody's rating (as of October 2019)

Countries according to the credit rating of the rating agency Moody's. All information applies to February 2019.

country	Rating	outlook	Last change
Australia	Aaa	Stable	2016/08
Denmark	Aaa	Stable	2017/03
Germany	Aaa	Stable	2017/02
Canada	Aaa	Stable	2016/11
Luxembourg	Aaa	Stable	2017/03
New Zealand	Aaa	Stable	2017/03
Netherlands	Aaa	Stable	2017/03
Norway	Aaa	Stable	2016/03
Sweden	Aaa	Stable	2016/04
Switzerland	Aaa	Stable	2016/12
Singapore	Aaa	Stable	2016/12
United States	Aaa	Stable	2013/07
Finland	Aa1	Stable	2016/06
Isle of Man	Aa1	negative	2016/06
Austria	Aa1	Stable	2016/06
France	Aa2	positive	2018/05
Hong Kong	Aa2	Stable	2017/05
Kuwait	Aa2	Stable	2016/05
South Korea	Aa2	Stable	2015/12
United Kingdom	Aa2	Stable	2017/09
United Arab Emirates	Aa2	Stable	2017/05
Belgium	Aa3	Stable	2017/03
Cayman Islands	Aa3	Stable	2017/07
Qatar	Aa3	Stable	2018/07
Macau	Aa3	Stable	2017/05
Taiwan	Aa3	Stable	2016/11
Chile	A1	Stable	2018/07
People's Republic of China	A1	Stable	2017/05
Estonia	A1	Stable	2017/07
Israel	A1	positive	2018/08
Japan	A1	Stable	2016/08
Saudi Arabia	A1	Stable	2016/05
Czech Republic	A1	positive	2018/04
Bermuda	A2	Stable	2016/06
Botswana	A2	Stable	2016/04
Ireland	A2	Stable	2017/09
Poland	A2	Stable	2017/05
Slovakia	A2	positive	2017/04
Iceland	A3	positive	2018/07
Latvia	A3	Stable	2017/07
Lithuania	A3	Stable	2017/09
Malaysia	A3	Stable	2016/11
Malta	A3	Stable	2016/09
Mexico	A3	negative	2017/04
Peru	A3	Stable	2017/08
Mauritius	Baa1	Stable	2015/11
Slovenia	Baa1	Stable	2017/09
Spain	Baa1	Stable	2018/04
Thailand	Baa1	Stable	2017/07
Bulgaria	Baa2	Stable	2017/05
India	Baa2	Stable	2017/11
Indonesia	Baa2	Stable	2018/04
Colombia	Baa2	Stable	2016/05
Panama	Baa2	Stable	2015/07
Philippines	Baa2	Stable	2017/06
Uruguay	Baa2	Stable	2017/07
Bahamas	Baa3	negative	2017/08
Kazakhstan	Baa3	Stable	2017/07
Portugal	Baa3	Stable	2018/10
South Africa	Baa3	negative	2017/06
Romania	Baa3	positive	2017/04
Russia	Baa3	positive	2019/01
Italy	Baa3	Stable	2018/10
Hungary	Baa3	Stable	2016/11
Guatemala	Ba1	negative	2016/06
Paraguay	Ba1	Stable	2016/06
Morocco	Ba1	Stable	2017/02
Namibia	Ba1	negative	2017/08
Trinidad and Tobago	Ba1	negative	2017/04
Azerbaijan	Ba2	negative	2017/08
Brazil	Ba2	Stable	2017/05
Georgia	Ba2	Stable	2017/07
Croatia	Ba2	positive	2017/03
Cyprus	Ba2	positive	2018/07
Bangladesh	Ba3	Stable	2017/04
Bolivia	Ba3	Stable	2017/08
Dominican Republic	Ba3	Stable	2017/07
Fiji	Ba3	Stable	2017/09
Oman	Ba3	negative	2018/05
Senegal	Ba3	Stable	2017/04
Serbia	Ba3	positive	2017/03
Vietnam	Ba3	Stable	2018/08
Turkey	B1	negative	2019/06
Ethiopia	B1	Stable	2016/12
Albania	B1	Stable	2017/07
Armenia	B1	Stable	2016/03
Costa Rica	B1	negative	2018/12
Honduras	B1	Stable	2017/09
Jordan	B1	Stable	2016/11
Kenya	B1	Stable	2016/02
Montenegro	B1	Positive	2018/09
Nigeria	B1	Stable	2016/12
Suriname	B1	Stable	2016/05
Tanzania	B1	negative	2018/03
Bahrain	B2	Stable	2018/12
Cameroon	B2	Stable	2016/08
Kyrgyzstan	B2	Stable	2015/12
Maldives	B2	Stable	2016/09
Nicaragua	B2	Stable	2017/07
Papua New Guinea	B2	Stable	2016/04
Rwanda	B2	Stable	2016/08
Sri Lanka	B2	negative	2018/11
Swaziland	B2	negative	2017/10
Tunisia	B2	negative	2018/03
Uganda	B2	Stable	2016/11
Egypt	B3	positive	2018/08
Angola	B3	Stable	2018/04
Argentina	B3	positive	2017/03
Belize	B3	Stable	2017/04
Bosnia and Herzegovina	B3	Stable	2016/02
Ecuador	B3	Stable	2016/11
El Salvador	B3	Stable	2018/02
Ghana	B3	Stable	2016/09
Greece	B3	positive	2018/02
Jamaica	B3	Stable	2016/11
DR Congo	B3	Stable	2016/06
Moldova	B3	Stable	2017/01
Pakistan	B3	Stable	2017/07
St. Vincent and the Grenadines	B3	Stable	2016/05
Tajikistan	B3	Stable	2017/08
Belarus	B3	Stable	2018/03
Gabon	Caa1	Stable	2018/07
Iraq	Caa1	Stable	2017/08
Lebanon	Caa1	Stable	2019/01
Mongolia	Caa1	Stable	2017/03
Zambia	Caa1	Stable	2018/08
Ukraine	Caa1	Stable	2018/12
Republic of the Congo	Caa2	Stable	2018/10
Cuba	Caa2	positive	2015/12
Barbados	Caa3	negative	2017/03
Mozambique	Caa3	Stable	2019/01
Venezuela	C.	negative	2018/03
Puerto Rico	C.	negative	2017/04
country	Rating	outlook	Last change

Dagong

European countries by Dagong rating (as of August 2018)

Countries according to the credit rating of the Dagong rating agency. All information applies to October 2018.

country	Rating	outlook	Last change
People's Republic of China	AAA	Stable	2014/09
Hong Kong	AAA	Stable	2013/12
Luxembourg	AAA	Stable	2013/12
Norway	AAA	Stable	2014/09
Switzerland	AAA	Stable	2013/11
Singapore	AAA	Stable	2014/02
Australia	AA +	Stable	2013/11
Denmark	AA +	Stable	2014/01
Germany	AA +	Stable	2013/12
Finland	AA +	Stable	2017/11
Canada	AA +	negative	2018/04
Macau	AA +	Stable	2013/12
Netherlands	AA +	Stable	2015/01
Austria	AA +	Stable	2014/12
Sweden	AA +	Stable	2014/01
Kuwait	AA	Stable	2014/06
New Zealand	AA	Stable	2017/09
Cayman Islands	AA−	Stable	2013/01
Chile	AA−	Stable	2014/01
Qatar	AA−	negative	2017/06
Oman	AA−	Stable	2014/08
Saudi Arabia	AA−	Stable	2016/12
South Korea	AA−	Stable	2013/11
Taiwan	AA−	Stable	2013/03
Belgium	A +	Stable	2013/03
Malaysia	A +	Stable	2014/07
Czech Republic	A +	Stable	2017/09
United Kingdom	A +	Stable	2016/07
Botswana	A.	Stable	2013/04
Estonia	A.	Stable	2013/11
France	A.	Stable	2018/04
Japan	A.	negative	2018/02
Poland	A.	Stable	2017/09
Russia	A.	Stable	2017/09
Israel	A−	Stable	2014/01
Panama	A−	Stable	2013/07
Malta	A−	Stable	2014/03
United Arab Emirates	A−	Stable	2018/07
Ireland	BBB +	Stable	2018/05
Colombia	BBB +	Stable	2013/07
Lithuania	BBB +	Stable	2017/02
Peru	BBB +	Stable	2014/05
Spain	BBB +	Stable	2014/05
United States	BBB +	negative	2018/01
Turkmenistan	BBB +	Stable	2013/05
Bahrain	BBB +	negative	2017/08
Bulgaria	BBB	Stable	2017/09
India	BBB	Stable	2018/04
Kazakhstan	BBB	Stable	2017/11
Morocco	BBB	Stable	2014/03
Mauritius	BBB	Stable	2012/07
Mexico	BBB	Stable	2018/04
South Africa	BBB	negative	2018/03
Thailand	BBB	Stable	2017/07
Uzbekistan	BBB	Stable	2013/03
Algeria	BBB−	Stable	2014/10
Bolivia	BBB−	negative	2017/03
Indonesia	BBB−	Stable	2017/09
Latvia	BBB−	Stable	2014/01
Hungary	BBB−	Stable	2014/07
Brazil	BB +	negative	2018/01
Italy	BB +	negative	2018/05
Croatia	BB +	Stable	2017/05
Portugal	BB +	Stable	2017/08
Romania	BB +	Stable	2017/05
Suriname	BB +	Stable	2013/05
Philippines	BB	Stable	2017/10
Tunisia	BB	negative	2014/07
Angola	BB−	Stable	2013/05
Bangladesh	BB−	Stable	2013/11
Georgia	BB−	Stable	2014/03
Iceland	BB−	Stable	2012/07
Micronesia	BB−	Stable	2013/02
Nigeria	BB−	negative	2017/01
Paraguay	BB−	Stable	2014/05
Serbia	BB−	negative	2013/11
Turkey	BB−	negative	2018/03
Belarus	BB−	Stable	2014/01
Sri Lanka	B +	Stable	2017/02
Vietnam	B +	Stable	2014/05
Bosnia and Herzegovina	B.	Stable	2014/05
Ghana	B.	Stable	2013/04
Cambodia	B.	Stable	2013/03
Kenya	B.	Stable	2014/07
Mongolia	B.	negative	2017/07
Egypt	B−	Stable	2015/06
Ecuador	B−	Stable	2014/07
Jordan	B−	Stable	2013/05
Pakistan	B−	Stable	2017/12
Ethiopia	CCC	Stable	2016/11
Argentina	CCC	Stable	2018/05
Greece	CCC	Stable	2017/11
Yemen	CCC	negative	2013/05
Dem. Rep. Congo	CCC	Stable	2013/05
Madagascar	CCC	Stable	2012/05
Venezuela	CCC	negative	2016/12
Ukraine	CCC	negative	2014/05
South Sudan	CC	Stable	2013/02
Sudan	C.	Stable	2013/02
country	Rating	outlook	Last change

See also

• List of countries by national debt ratio
• List of countries by external debt
• List of countries by household debt
• List of countries by state budget

Individual evidence

1. ↑ Sovereigns Ratings List 2018 . In: countryeconomy.com . ( countryeconomy.com [accessed April 10, 2018]).
2. ↑ Sovereign Ratings. S&P Global Market Intelligence, accessed April 10, 2018 . 
3. ↑ Sovereigns. Accessed April 7, 2018 . 
4. ↑ Research & Ratings: States & Supranational Organizations - Moody's. Retrieved April 8, 2018 . 
5. ↑ 大公 信 软: DAGONG GLOBAL CREDIT RATING CO., LTD. Retrieved April 8, 2018 .