List of countries by credit rating


This is a list of countries by credit rating, showing long-term foreign currency credit ratings for sovereign bonds as reported by the largest three major credit rating agencies: Standard & Poor's, Fitch, and Moody's. The list also includes all country subdivisions not issuing sovereign bonds, but it excludes regions, provinces and municipalities issuing sub-sovereign bonds.

Countries' and regions' ratings in different methods

Standard & Poor's

For S&P, a bond is considered investment grade if its credit rating is BBB- or higher. Bonds rated BB+ and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country/RegionRatingOutlookDateRef.
201 AAStable2012-02-20
091 B+Stable2012-02-20
131 BBB-Stable2016-07-29
071 B-Stable2016-08-12
081 BStable2018-11-13
152 BBB+Positive2016-06-06
220 AAAStable2016-07-06
211 AA+Stable2013-01-29
120 BB+Negative2016-07-29
121 BB+Stable2016-12-20
101 BB-Stable2016-12-09
101 BB-Stable2010-04-05
060 CCC+Negative2017-03
081 BStable2017-10-06
201 AAStable2018-04-04
070 B-Negative2017-03-23
181 A+Stable2015-04-28
111 BBStable2014-05-16
081 BStable2012-03-28
161 A-Stable2016-04-29
101 BB-Stable2018-01-11
152 BBB+Positive2018-06-01
072 B-Positive2016-05-27
081 BStable2012-02-20
221 AAAStable2002-07-29
080 BNegative2016-10-07
181 A+Stable2017-07-13
181 A+Stable2017-09-21
140 BBBNegative2016-02-16
070 B-Negative2016-02-05
071 B-Stable2016-08-09
091 B+Stable2011-12-14
100 BB-Negative2016-02-25
131 BBB-Stable2019-03-22
161 A-Stable2013-06-14
131 BBB-Stable2018-09-14
191 AA-Stable2011-08-24
221 AAAStable2001-02-27
101 BB-Stable2015-05-20
071 B-Stable2017-06-29
081 BStable2016-11-11
070 B-Negative2016-12-08
191 AA-Stable2012-10-19
081 BStable2014-05-09
201 AAStable2016-06-30
091 B+Stable2015-05-01
211 AA+Stable2016-09-16
201 AAStable2016-10-21
101 BB-Stable2011-11-22
221 AAAStable2012-01-13
071 B-Stable2014-10-24
102 BB-Positive2019-10-25
110 BBNegative2016-10-27
191 AA-Stable2016-07-08
092 B+Positive2016-07-18
211 AA+Stable2017-09-22
141 BBBStable2019-02-25
171 AStable2017-12-08
131 BBB-Stable2014-09-26
141 BBBNegative2020-04-17
071 B-Stable2015-09-03
191 AA-Stable2019-11-29
191 AAStable2018-08-03
140 BBBNegative2017-10-27
091 B+Stable2019-09-27
181 A+Stable2015-09-16
191 AA-Stable2016-07-08
100 BB-Negative2016-04-22
130 BBB-Negative2016-02-17
091 B+Stable2016-10-14
201 AAStable2011-07-20
161 A+Stable2020-02-21
071 CStable2020-07-27
221 AAAStable2016-02-26
181 A+Stable2020-02-21
221 AAAStable2013-01-14
101 BB-Stable2013-05-24
161 A-Stable2008-05-15
162 A-Positive2017-09-29
150 BBB+Negative2016-08-23
071 B-Stable2016-08-19
090 B+Negative2016-03-13
131 BBB-Stable2011-09-02
131 BBB-Stable2014-05-16
010 DNo outlook2017-01-18
221 AAAStable2015-11-20
201 AAStable2011-11-29
091 B+Stable2016-02-11
081 BStable2016-09-16
221 AAAStable1990-11-08
110 BBNegative2017-11-11
071 B-Stable2019-02-04
141 BBB+Stable2019-04-29
090 B+Negative2015-10-08
111 BBStable2016-06-15
151 BBB+Stable2013-08-19
151 BBB+Stable2019-04-30
161 A-Stable2018-10-13
142 BBBPositive2019-09-13
190 AA-Negative2017-03-03
171 AStable2014-10-13
131 BBB-Negative2019-09-11
131 BBB-Stable2018-07-20
081 BStable2016-09-09
161 A-Stable2016-02-17
091 B+Stable2013-07-05
112 BB+Positive2019-12-13
151 BBB+Stable2017-01-27
221 AAAStable1995-03-06
181 A+Stable2015-07-31
191 AA-Stable2019-06-17
120 BB+Negative2017-04-03
201 AAStable2016-08-07
162 AStable2019-09-20
090 B+Negative2016-03-10
090 B+Negative2016-04-25
221 AAAStable2004-02-16
221 AAAStable1989-06-26
191 AA-Stable2010-06-10
151 BBB+Stable2010-12-09
160 A-Negative2016-04-22
091 B+Stable2018-08-17
151 BBB+Stable2014-07-01
081 BStable2014-01-17
081 BStable2019-09-27
200 AANegative2016-06-27
211 AA+Stable2013-06-10
141 BBBStable2017-05-30
00 SDNegative2017-11-14
111 BBStable2019-04-05
080 BNegative2016-03-18

Fitch

For Fitch, a bond is considered investment grade if its credit rating is BBB- or higher. Bonds rated BB+ and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country/RegionRatingOutlookDateRef.
191AAStable2011-11-21
141BBB+Stable2020-01-31
070BNegative2019-07-12
040CCHighly Vulnerable2019-12-23
091BB-Stable2019-11-22
120BBB-Negative2019-04-11
211AAAStable2011-11-29
211AA+Stable2016-02-05
111BB+Stable2020-01-17
091BB-Stable2018-01-11
091BB-Stable2019-11-12
071BStable2018-07-20
181AA-Stable2019-10-04
072BPositive2019-12-19
201AA+Stable2011-11-21
080B+Negative2019-11-21
091BB-Stable2019-11-14
132BBBPositive2019-08-23
071BStable2011-11-21
211AA+Stable2020-06-24
072BPositive2019-12-13
161AStable2019-02-22
171A+Stable2011-11-21
130BBBNegative2019-11-20
051CCCHighly Vulnerable2019-09-06
080B+Negative2019-10-30
081B+Stable2019-05-24
122BBB-Positive2019-06-08
122BBB-Positive2019-10-11
181AA-Stable2020-01-24
211AAAStable2011-11-21
091BB-Stable2014-11-21
060B-Negative2019-01-10
081B+Stable2019-11-25
061B-Stable2018-06-13
181AA-Stable2018-10-05
070BNegative2019-10-01
201AA+Stable2020-01-24
201AAStable2014-12-12
071BStable2019-12-02
101BBStable2019-08-16
211AAAStable2011-11-21
071BStable2019-10-11
102BBPositive2020-01-24
100BBNegative2019-04-11
181AA-Stable2020-04-20
131BBBStable2019-02-25
171AStable2017-12-08
121BBB-Negative2020-06-18
131BBBStable2017-10-20
061B-Stable2019-07-25
171A+Stable2017-12-15
171A+Stable2016-11-11
121BBB-Stable2020-04-28
082B+Positive2020-01-29
161AStable2019-07-16
131BBBStable2019-09-06
081B+Stable2011-11-21
191AAStable2011-11-21
151A-Stable2014-06-20
041CCHighly Vulnerable2019-12-12
071BStable2019-08-19
161AStable2020-01-31
211AAAStable2011-11-21
191AAStable2018-12-19
151A-Stable2011-11-21
172A+Positive2020-01-10
131BBBStable2019-06-05
071BStable2019-07-04
121BBB-Stable2011-11-21
051CCCHighly Vulnerable2019-11-07
101BBStable2019-10-01
211AAAStable2011-11-21
191AAStable2011-11-21
080B+Negative2019-12-19
211AAAStable2011-11-21
111BB+Stable2019-06-14
111BB+Stable2019-07-22
061B-Stable2019-06-15
131BBBStable2011-11-21
111BB+Stable2019-12-06
131BBBStable2020-05-07
151A-Stable2013-02-21
132BBBPositive2019-11-22
161AStable2011-11-21
121BBB-Stable2019-11-08
131BBBStable2019-08-09
081B+Stable2019-09-03
120 BBB-Negative2019-10-18
161AStable2019-09-30
111BB+Stable2019-09-27
101BBStable2019-12-20
211AAAStable2011-11-21
161AStable2020-05-08
161AStable2019-07-19
110BBNegative2020-04-03
181AA-Stable2012-09-07
151A-Stable2018-01-20
070BNegative2019-12-18
051CCCHighly Vulnerable2020-01-16
211AAAStable2011-11-21
211AAAStable2011-11-21
181AA-Stable2019-09-25
142BBB+Positive2019-07-18
080B+Negative2019-06-27
091BB-Stable2020-04-29
081B+Stable2019-06-28
072BPositive2019-09-06
180AA-Negative2020-03-27
211AAAStable2014-03-21
120BBB-Negative2019-06-27
091BB-Stable2018-12-20
011NRHighly Vulnerable2019-06-27
102BBPositive2019-05-09
041CCHighly Vulnerable2020-04-16

Moody's

For Moody's, a bond is considered investment grade if its credit rating is Baa3 or higher. Bonds rated Ba1 and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country/RegionRatingOutlookDateRef.
081B1Stable2017-08-04
080B1Negative2017-04-07
040Caa2Ratings Under Review2019-08-30
081B1Stable2016-03-18
211AaaStable2016-08-17
211Aa1Stable2016-06-24
101Ba2Stable2017-08-18
120Baa3Negative2017-08-25
080B1Negative2017-07-28
091Ba3Stable2017-04-17
031Caa3Stable2017-03-09
061B3Stable2019-04-25
181Aa3Stable2017-03-03
061B3Stable2017-04-11
161A2Stable2016-06-03
091Ba3Stable2017-08-01
061B3Stable2016-02-26
161A2Stable2016-04-22
100Ba2Negative2017-05-26
132Baa2Positive2017-05-26
071B2Stable2017-03-17
071B2Stable2016-08-05
211AaaStable2016-11-02
181Aa3Stable2017-07-17
180Aa3Negative2017-08-24
171A1Stable2017-05-24
131Baa2Stable2016-05-26
040Caa2Negative2017-07-28
100Ba2Negative2017-02-09
102Ba2Positive2019-04-26
042Caa2Positive2015-12-10
092Ba3Positive2017-07-28
181Aa3Stable2019-10-04
211AaaStable2017-03-24
091Ba3Stable2017-07-20
061B3Stable2016-06-17
061B3Stable2016-11-23
062B3Positive2017-08-29
051Caa1Stable2017-04-13
171A1Stable2017-07-21
081B1Stable2016-12-02
091Ba3Stable2017-09-06
201Aa1Stable2016-06-03
191Aa2Stable2015-09-18
060B3Negative2017-07-03
101Ba2Stable2017-09-11
211AaaStable2017-02-24
061B3Stable2016-09-23
081B1Stable2019-03-01
111Ba1Stable2016-06-30
081B1Stable2017-09-22
181Aa3Stable2020-01-20
121Baa3Stable2016-11-04
151A3Stable2016-09-01
131Baa3Negative2020-06-01
131Baa2Stable2018-04-13
051Caa1Stable2017-08-03
161A2Stable2017-09-15
200Aa1Negative2016-06-29
172A1Stable2019-9-22
121Baa3Stable2018-10-19
091Ba3Stable2015-11-05
061B3Stable2016-11-21
171A1Stable2016-08-30
081B1Stable2016-11-14
121Baa3Stable2017-07-26
081B1Stable2016-02-12
191Aa2Stable2016-05-26
071B2Stable2015-12-09
151A3Stable2017-07-14
061B3Stable2017-08-25
151A3Stable2017-09-08
211AaaStable2017-03-03
181Aa3Stable2017-05-24
151A3Stable2016-11-01
071B2Stable2016-09-02
161A2Stable2019-07-20
141Baa1Stable2015-11-24
150A3Negative2017-04-27
061B3Stable2017-01-13
051Caa1Stable2017-03-30
080B1Negative2016-05-14
112Ba1Positive2017-02-24
030Caa3Negative2016-07-08
110Ba1Negative2017-08-11
211AaaStable2017-03-31
211AaaStable2017-03-24
072B2Positive2017-07-20
081B1Stable2016-12-09
211AaaStable2016-03-04
110 Ba1Negative2019-03-06
061B3Stable2019-12-02
131Baa2Stable2015-12-01
071B2Stable2016-04-25
111Ba1Stable2016-06-21
151A3Stable2017-08-23
131Baa2Stable2017-06-27
161A2Stable2017-05-12
121Baa3Stable2018-10-12
010CNegative2017-04-05
180Aa3Negative2017-07-04
122Baa3Positive2017-04-21
121Baa3Stable2017-02-17
071B2Stable2016-08-12
171A1Stable2016-05-14
091Ba3Stable2017-04-13
091Ba3Stable2017-03-17
211AaaStable2016-12-08
162A2Positive2017-04-07
142Baa1Positive2019-04-26
120Baa3Negative2017-06-09
191Aa2Stable2015-12-18
141Baa1Stable2018-04-13
080B1Negative2016-06-20
061B3Stable2016-05-19
081B1Stable2016-05-20
070 B2Negative2017-10-17
211AaaStable2016-04-08
211AaaStable2016-12-02
181Aa3Stable2016-11-17
061B3Stable2017-08-28
141Baa1Stable2017-07-18
111Ba1Stable2017-04-25
080B1Negative2017-08-18
080B1Negative2019-06-14
071B2Stable2016-11-18
052Caa1Positive2019-11-22
191Aa2Stable2017-05-27
191Aa2Negative2019-11-08
211AaaStable2013-07-18
131Baa2Stable2017-07-13
082B1Stable2019-02-13
030Caa3Negative2016-03-04
091Ba3Negative2019-12-18
060B3Negative2016-04-19

DBRS Morningstar

For DBRS Morningstar, a bond is considered investment grade if its credit rating is BBB or higher. Bonds rated BB and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country/RegionRatingTrendDateRef.
021 DN/A2014-07-31
221AAAStable2014-07-31
221AAAStable2014-06-13
211AAStable2014-03-21
141BBBStable2014-08-01
221AAAStable2014-07-18
191AAStable2014-02-28
141BBBStable2014-04-30
071BStable2014-06-27
221AAAStable2014-07-25
221AAAStable2014-07-11
221AAAStable2014-05-16
221AAAStable2014-05-30
221AAAStable2014-04-11
081BPositive2018-06-29
132BBBPositive2017-11-16
161AStable2014-03-28
160ANegative2014-04-11
181AStable2013-11-20
151BBBStable2014-03-31
221AAAStable2014-04-25
221AAAStable2014-07-04
151BBBStable2014-05-30
131BBBStable2018-04-20
160ANegative2014-04-11
221AAAStable2014-06-13
221AAAStable2013-12-27
131BBBStable2014-07-28
221AAAStable2014-07-18
221AAAStable2014-04-22
131BBBStable2017-05-26

Scope Ratings

For Scope – the European rating agency – a bond is considered investment grade if its credit rating is BBB- or higher. Bonds rated BB+ and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country/RegionRatingTrendDateRef.
211AAAStable2019-03-08
191AANegative2020-02-07
141BBB+Stable2019-02-22
170A+Negative2020-02-28
111BBB-Stable2019-06-28
121BBB-Stable2019-08-23
191AAStable2018-01-26
211AAAStable2019-07-26
171AA-Stable2020-02-21
211AAAStable2019-02-01
201AA+Stable2019-07-26
191AAStable2017-06-30
101BBNegative2020-04-17
211AAAStable2017-06-30
082BBPositive2019-10-18
132BBB+Stable2019-10-18
171A+Positive2020-01-17
141BBB+Negative2020-05-15
171A+Negative2020-04-24
151A-Stable2018-04-27
151A-Positive2019-10-04
211AAAStable2018-10-19
171A+Stable2018-11-09
211AAAStable2019-04-12
211AAAStable2019-02-08
171A+Stable2019-11-01
132BBB+Stable2020-01-31
120BBB-Negative2020-06-12
121BBBStable2020-01-17
171A+Negative2020-05-01
171AStable2019-06-21
151A-Stable2018-05-18
211AAAStable2019-07-26
211AAAStable2018-09-20
090B+Stable2020-07-10
190AANegative2020-02-07
191AAStable2019-07-26

JCR

is a credit rating agency based in Japan. JCR is a Nationally Recognized Statistical Rating Organization by the U.S. Securities and Exchange Commission.
Country/RegionRatingOutlookDateRef.
19AAAStable2012-07-02
19AAAStable2013-03-25
11BBBStable2012-11-15
19AAAStable2012-09-04
16AA-Stable2018-07-25
19AAAStable2013-02-14
19AAAStable2013-04-19
19AAAStable2013-04-26
19AAAStable2013-02-28
18AA+Stable2012-09-05
11BBB+Stable2016-02-21
12BBB+Stable2012-11-30
10BBB-Stable2012-11-13
16AA-Negative2013-04-10
19AAAStable2013-03-15
14AStable2012-10-19
13A-Stable2012-12-21
19AAAStable2012-10-04
19AAAStable2012-08-02
11A-Stable2020-06-11
14AStable2013-03-01
14AStable2013-03-15
07BBB-Stable2013-03-28
07BBB+Stable2014-12-26
19AAAStable2012-02-01
15A+Stable2013-01-24
15A+Stable2012-11-08
16A+Stable2016-08-15
17AANegative2013-04-12
14A-Stable2013-04-02
10BBB-Stable2013-05-23
19AAAStable2012-06-29
19AAAStable2012-03-09

Dagong

is a credit rating agency based in China. As of August 2018, the China Securities Regulatory Commission has ordered Dagong to suspend services in the Chinese market for a year due to lax corporate governance, conflicts of interests, misuse of the official seal of the company, chaotic management, high fees charged to issuers for consulting services, unqualified senior management, and problems with financial models used in bond ratings.
CountryRatingOutlookDateRef.
121BBB-Stable2014-10
091BB-Stable2013-05-31
000DNegative2014-07-31
201AA+Stable2013-11
201AA+Stable2014-12
151A-Stable2014-08
091BB-Stable2013-11
090BB-Negative2014-01
171A+Stable2014-10
121BBB-Stable2013-05-15
071BStable2014-05
161AStable2013-04-07
150A-Negative2014-01
121BBB-Stable2013-09
071BStable2013-03-15
201AA+Stable2014-04
181AA-Stable2013-11
181AA-Stable2014-02
201AAAStable2014-09
141BBB+Stable2013-07-24
110BB+Negative2014-05
171A+Stable2013-09
041CCCStable2013-05-16
201AA+Stable2014-01
061B-Stable2014-07
061B-Stable2015-06
161AStable2013-11
051CCCStable2014-03
201AA+Stable2014-11
170A+Negative2014-01
091BB-Stable2014-03
201AA+Stable2013-12
071BStable2013-04-24
041CCCStable2017-11
211AAAStable2013-12
121BBB-Stable2014-07
091BB-Stable2012-10
132BBBPositive2014-12
120BBB-Negative2014-01
131BBBStable2014-10
151A-Stable2014-01
120BBB-Negative2014-01
170A+Negative2014-08
061B-Stable2013-05-15
121BBB-Stable2014-03
071BStable2014-07
191AAStable2014-06
121BBB-Stable2014-01
132BBBPositive2014-08
211AAAStable2013-12
201AA+Stable2013-12
051CCCStable2012-05
171A+Stable2014-07
150A-Negative2014-03
131BBBStable2012-07
131BBBStable2013-11
091BB-Stable2013-02
091BNegative2017-07
130BBBNegative2014-03
201AA+Stable2015-01
190AANegative2014-01
111BB+Stable2014-07
211AAAStable2014-09
181AA-Stable2014-08
030CCC-Negative2014-04
151A-Stable2013-07-01
091BB-Stable2014-05
141BBB+Stable2014-09
090BB-Negative2014-01
150A-Negative2013-12
100BBNegative2013-09
181AA-Stable2014-07
101BBStable2014-10
161AStable2013-11
191AAStable2014-08
090BB-Negative2013-11
211AAAStable2014-12
150A-Negative2013-11
181AA-Stable2013-11
021CCStable2013-02
141BBB+Stable2014-05
080B+Negative2013-03-18
011CStable2013-02
111BB+Stable2013-05-20
201AA+Stable2014-01
211AAAStable2013-11
181AA-Stable2013-03-06
130BBBNegative2014-05
100BBNegative2014-07
111BB+Stable2013-12
141BBB+Stable2013-05-14
171A+Stable2016-07
140BBB+Negative2018-01-16
040CCCNegative2014-05
141BBB+Stable2014-02
131BBB2013-03-27
040CCCNegative2016-12-05
081B+Stable2016-12-07
040CCCNegative2013-05-23

China Chengxin

is a credit rating agency based in China.
CountryRatingOutlookDateRef.
05BgStable2014-08
19AAAgStable2012-08
12BBBg+Stable2012-08
19AAAgStable2012-08
17AAg+Stable2012-08
17AAg+Stable2012-08
16AAgStable2012-08
17AAg+Stable2012-08
01CCCgN/A2014-04
10BBBg-Stable2012-08
11BBBgStable2012-08
10BBBg-Stable2012-08
10BBg+Negative2012-08
11BBBgStable2013-03
18AAg+Stable2012-08
12BBBg+Stable2012-08
18AAg+Stable2012-08
19AAAgStable2012-08
07BBg-Negative2012-08
14AgStable2012-08
18AAg+Stable2013-07
19AAAgStable2013-07
14AgStable2013-07
16AAg-Stable2013-07
09BBg+Negative2013-03
19AAAgStable2012-08
12BBBg+Stable2012-08
14BB+Stable2012-08
18AAg+Stable2013-03
19AAAgStable2012-08

Not rated

that have not been assigned a credit rating by any of the eight rating agencies.
CountryDetails
Fitch suspended Gambia's credit rating after its only traded international bond expired
Fitch has withdrawn all ratings for Iran following the maturity and full repayment of the last outstanding sovereign eurobond on 21 April 2008.
Fitch has withdrawn all ratings for Libya because it does not have enough information to maintain coverage of the issuer.
Mali was given a credit rating in 2004 as part of a UN development initiative, but the rating was later withdrawn.