List of countries by credit rating

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This is a list of countries by credit rating, showing long-term foreign currency credit ratings for sovereign bonds as reported by the three major credit rating agencies: Standard & Poor's, Fitch, and Moody's. The ratings of DBRS, China Chengxin Credit Rating Group, Dagong and JCR are also included. The list also includes all country subdivisions issuing sovereign bonds, but it excludes regions, provinces and municipalities issuing sub-sovereign bonds.

Countries' ratings in different methods[edit]

Standard & Poor’s[edit]

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.[1]

Financial ratings of European States by Standard & Poor's (foreign currency)
Country Rating Outlook Date Ref.
 Abu Dhabi, UAE 20 AA Stable 2012-02-20 [2]
 Afghanistan Not rated
 Albania 09 B+ Stable 2012-02-20 [2]
 Algeria Not rated
 Andorra 13 BBB- Stable 2016-07-29 [2]
 Angola 08 B Stable 2016-02-12 [2]
 Antigua and Barbuda Not rated
 Argentina 07 B- Stable 2016-05-06 [3]
 Armenia Not rated
 Aruba 15 BBB+ Stable 2014-07-20 [2]
 Australia 22 AAA Negative 2016-07-06 [2]
 Austria 21 AA+ Stable 2013-01-29 [2]
 Azerbaijan 12 BB+ Negative 2016-07-29 [2]
 Bahamas 13 BBB- Negative 2015-08-25 [2]
 Bahrain 11 BB Stable 2016-02-17 [2]
 Bangladesh 10 BB- Stable 2010-04-05 [2]
 Barbados 07 B- Negative 2016-09-23 [2]
 Belarus 07 B- Stable 2013-10-18 [2]
 Belgium 20 AA Stable 2014-02-28 [2]
 Belize 06 CCC+ Negative 2016-11-14 [2]
 Benin Not rated
 Bermuda 18 A+ Stable 2015-04-28 [2]
 Bhutan Not rated
 Bolivia 11 BB Stable 2014-05-16 [2]
 Bosnia and Herzegovina 08 B Stable 2012-03-28 [2]
 Botswana 16 A- Negative 2016-04-29 [2]
 Brazil 11 BB Negative 2016-02-17 [2]
 Brunei Not rated
 Bulgaria 12 BB+ Stable 2014-12-12 [2]
 Burkina Faso 07 B- Positive 2016-05-27 [2]
 Burundi Not rated
 Cambodia Not rated
 Cameroon 08 B Stable 2012-02-20 [2]
 Canada 22 AAA Stable 2002-07-29 [2]
 Cape Verde 08 B Stable 2016-10-07 [2]
 Central African Republic Not rated
 Chad Not rated
 Chile 19 AA- Positive 2012-12-26 [2]
 China 19 AA- Negative 2016-03-31 [4]
 Colombia 14 BBB Negative 2016-02-16 [2]
 Comoros Not rated
 Congo, D. R. 07 B- Negative 2016-02-05 [2]
 Congo, Republic 07 B- Stable 2016-08-09 [2]
 Cook Islands 09 B+ Stable 2011-12-14 [2]
 Costa Rica 10 BB- Negative 2016-02-25 [2]
 Croatia 11 BB Negative 2015-07-17 [2]
 Cuba Not rated
 Curacao 16 A- Stable 2013-06-14 [2]
 Cyprus 11 BB Positive 2016-09-16 [2]
 Czech Republic 19 AA- Stable 2011-08-24 [2]
 Denmark 22 AAA Stable 2001-02-27 [2]
 Djibouti Not rated
 Dominica Not rated
 Dominican Republic 10 BB- Stable 2015-05-20 [2]
 East Timor Not rated
 Ecuador 08 B Stable 2015-08-12 [2]
 Egypt 07 B- Stable 2016-11-11 [2][5]
 El Salvador 08 B Watch negative 2016-10-13 [2]
 Equatorial Guinea Not rated
 Eritrea Not rated
 Ethiopia 08 B Stable 2014-05-09 [2]
 European Union 20 AA Stable 2016-06-30 [2]
 Estonia 19 AA- Stable 2012-10-19 [2][6]
 Fiji 09 B+ Stable 2015-05-01 [2]
 Finland 21 AA+ Stable 2016-09-16 [2]
 France 20 AA Stable 2016-10-21 [2]
 French Polynesia 13 BBB- Stable 2016-05-06 [2]
 Gambia Not rated
 Georgia 10 BB- Stable 2011-11-22 [2]
 Germany 22 AAA Stable 2012-01-13 [2]
 Ghana 07 B- Stable 2014-10-24 [2]
 Greece 07 B- Stable 2016-01-22 [2]
 Grenada Not rated
 Guatemala 11 BB Negative 2016-10-27 [2]
 Guernsey 19 AA- Stable 2016-07-08 [2]
 Guinea Not rated
 Guinea-Bissau Not rated
 Guyana Not rated
 Haiti Not rated
 Honduras 09 B+ Positive 2016-07-18 [2]
 Hong Kong 22 AAA Negative 2016-03-31 [2]
 Hungary 13 BBB- Stable 2016-09-16 [2]
 Iceland 15 BBB+ Stable 2016-01-15 [2]
 India 13 BBB- Stable 2014-09-26 [2]
 Indonesia 12 BB+ Positive 2015-05-21 [2]
 Iran Not rated
 Iraq 07 B- Stable 2015-09-03 [2]
 Ireland 18 A+ Stable 2015-06-05 [2]
 Isle of Man 21 AA+ Stable 2011-11-29 [2]
 Israel 18 A+ Stable 2011-09-09 [2]
 Italy 13 BBB- Stable 2014-12-05 [2]
 Ivory Coast Not rated
 Jamaica 08 B Stable 2015-06-04 [2]
 Japan 18 A+ Stable 2015-09-16 [2]
 Jordan 10 BB- Negative 2016-04-22 [2]
 Kazakhstan 13 BBB- Negative 2016-02-17 [2]
 Kenya 09 B+ Stable 2016-10-14 [2]
 Kiribati Not rated
 Kosovo Not rated
 Kuwait 20 AA Stable 2011-07-20 [2]
 Kyrgyzstan Not rated
 Laos Not rated
 Latvia 16 A- Stable 2014-05-30 [2][7]
 Lebanon 07 B- Stable 2016-09-02 [2]
 Lesotho Not rated
 Liberia Not rated
 Libya Not rated
 Liechtenstein 22 AAA Stable 2016-02-26 [2]
 Lithuania 16 A- Stable 2014-04-11 [2]
 Luxembourg 22 AAA Stable 2013-01-14 [2]
 Macedonia 10 BB- Stable 2013-05-24 [2]
 Madagascar Not rated
 Malawi Not rated
 Malaysia 16 A- Stable 2008-05-15 [2]
 Maldives Not rated
 Mali Not rated
 Malta 16 A- Stable 2016-10-14 [2][8]
 Marshall Islands Not rated
 Mauritius Not rated
 Mexico 15 BBB+ Negative 2016-08-23 [2]
 Moldova Not rated
 Monaco Not rated
 Mongolia 07 B- Stable 2016-08-19 [2]
 Montenegro 09 B+ Negative 2016-03-13 [2]
 Montserrat 13 BBB- Stable 2011-09-02 [2]
 Morocco 13 BBB- Stable 2011-11-29 [2]
 Mozambique 02 CC Negative 2016-11-04 [2]
 Myanmar Not rated
 Namibia Not rated
 Nauru Not rated
   Nepal Not rated
 Netherlands 22 AAA Stable 2015-11-20 [2]
 New Zealand 20 AA Stable 2011-11-29 [2]
 Nicaragua 09 B+ Stable 2016-02-11 [2]
 Niger Not rated
 Nigeria 08 B Stable 2016-09-16 [2]
 North Korea Not rated
 Norway 22 AAA Stable 1990-11-08 [2]
 Oman 13 BBB- Negative 2016-11-11 [2]
 Pakistan 08 B Stable 2016-10-31 [2]
 Palau Not rated
 Panama 14 BBB Stable 2012-07-02 [2]
 Papua New Guinea 09 B+ Negative 2015-10-08 [2]
 Paraguay 11 BB Stable 2016-06-15 [2]
 Peru 15 BBB+ Stable 2013-08-19 [2]
 Philippines 14 BBB Stable 2014-05-08 [9][10]
 Poland 15 BBB+ Negative 2016-01-15 [2]
 Portugal 12 BB+ Stable 2015-09-18 [2]
 Qatar 20 AA Stable 2010-07-05 [2]
 Ras Al Khaimah, UAE 17 A Stable 2014-10-13 [2]
 Romania 13 BBB- Stable 2014-05-16 [2]
 Russia 12 BB+ Stable 2016-09-16 [11]
 Rwanda 08 B Stable 2016-09-09 [2]
 Samoa Not rated
 San Marino Not rated
 São Tomé and Príncipe Not rated
 Saudi Arabia 16 A- Stable 2016-02-17 [2]
 Senegal 09 B+ Stable 2013-07-05 [2]
 Serbia 10 BB- Stable 2016-01-15 [2]
 Seychelles Not rated
 Sharjah, UAE 17 A Negative 2016-08-05 [2]
 Sierra Leone Not rated
 Singapore 22 AAA Stable 1995-03-06 [2]
 Slovakia 18 A+ Stable 2015-07-31 [2]
 Slovenia 17 A Stable 2016-06-17 [2][12]
 Solomon Islands Not rated
 Somalia Not rated
 South Africa 13 BBB- Negative 2015-12-04 [13]
 South Korea 20 AA Stable 2016-08-07 [14]
 South Sudan Not rated
 Spain 15 BBB+ Stable 2015-10-02 [2]
 Sri Lanka 09 B+ Negative 2016-03-10 [2]
 St. Kitts and Nevis Not rated
 St. Lucia Not rated
 St. Vincent/Grenadines Not rated
 Sudan Not rated
 Suriname 09 B+ Negative 2016-04-25 [2]
 Swaziland Not rated
 Sweden 22 AAA Stable 2004-02-16 [2][15]
  Switzerland 22 AAA Stable 1989-06-26 [2]
 Syria Not rated
 Taiwan 19 AA- Stable 2010-06-10 [2]
 Tajikistan Not rated
 Tanzania Not rated
 Thailand 15 BBB+ Stable 2010-12-09 [2]
 Togo Not rated
 Tonga Not rated
 Trinidad and Tobago 16 A- Negative 2016-04-22 [2]
 Tunisia Not rated
 Turkey 11 BB Stable 2016-11-14 [2]
 Tuvalu Not rated
 Uganda 08 B Stable 2014-01-17 [2]
 Ukraine 07 B- Stable 2015-10-19 [2]
 United Kingdom 20 AA Negative 2016-06-27 [2]
 United States 21 AA+ Stable 2013-06-10 [2]
 Uruguay 14 BBB Negative 2016-06-06 [2]
 Uzbekistan Not rated
 Vanuatu Not rated
 Venezuela 05 CCC Negative 2015-02-09 [2]
 Vietnam 10 BB- Stable 2012-06-06 [2]
 Yemen Not rated
 Zambia 08 B Negative 2016-03-18 [2]
 Zimbabwe Not rated

Fitch Ratings[edit]

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.[16]

Financial ratings of European States by Fitch Ratings on 16 August 2014
Country Rating Outlook Date Ref.
 Abu Dhabi 19AA Stable 2011-11-21 [17]
 Angola 09BB- Stable 2011-11-21 [17]
 Argentina 07B Stable 2016-05-10 [18]
 Armenia 09BB- Stable 2011-11-21 [17]
 Aruba 12BBB- Stable 2016-04-26 [19]
 Australia 21AAA Stable 2011-11-29 [20]
 Austria 21AA+ Stable 2016-02-05 [17]
 Azerbaijan 12BBB- Positive 2011-11-21 [17]
 Bahrain 13BBB Stable 2011-11-21 [17]
 Belgium 19AA Stable 2013-01-24 [17]
 Benin 07B Stable 2011-11-21 [17]
 Bermuda 20AA+ Stable 2011-11-21 [17]
 Bolivia 08B+ Stable 2011-11-21 [17]
 Brazil 10BB Negative 2016-05-05 [17]
 Bulgaria 12BBB- Stable 2014-01-10 [17]
 Cameroon 07B Stable 2011-11-21 [17]
 Canada 21AAA Stable 2011-11-21 [17]
 Cape Verde 08B+ Stable 2011-11-21 [17]
 Chile 17A+ Stable 2011-11-21 [17]
 China 17A+ Stable 2011-11-21 [17]
 Colombia 13BBB Stable 2013-12-10 [17][21]
 Costa Rica 11BB+ Stable 2011-11-21 [17]
 Croatia 10BB Stable 2014-08-09 [17]
 Cyprus 09BB- Positive 2016-10-22 [17]
 Czech Republic 17A+ Positive 2011-11-21 [17]
 Denmark 21AAA Stable 2011-11-21 [17]
 Dominican Republic 07B+ Stable 2014-11-21 [17]
 Ecuador 07B Stable 2013-10-18 [17]
 Egypt 07B Stable 2014-12-19 [17][22][23]
 El Salvador 09BB- Stable 2013-07-16 [24]
 Estonia 17A+ Stable 2011-11-21 [17]
 Ethiopia 07B Stable 2015-10-09 [25]
 Finland 21AA+ Stable 2016-03-11 [17]
 France 20AA Stable 2014-12-12 [26]
 Gabon 09BB- Stable 2011-11-21 [17]
 Georgia 08B+ Positive 2011-11-21 [17]
 Germany 21AAA Stable 2011-11-21 [17]
 Ghana 08B+ Stable 2011-11-21 [17]
 Greece 04CCC Negative 2015-06-30 [17]
 Guatemala 11BB+ Stable 2011-11-21 [17]
 Hong Kong 20AA+ Stable 2011-11-21 [17]
 Hungary 11BBB- Positive 2016-05-20 [17][27]
 Iceland 14BBB+ Stable 2015-07-24 [17][28]
 India 12BBB- Stable 2013-06-12 [17][29][30]
 Indonesia 12BBB- Stable 2011-12-15 [17]
 Ireland 15A- Stable 2014-08-15 [17]
 Israel 17A+ Stable 2016-11-11 [17][31]
 Italy 14BBB+ Stable 2014-04-25 [17][32]
 Jamaica 06B- Stable 2011-11-21 [17]
 Japan 17A Negative 2016-06-13 [17][33]
 Kazakhstan 13BBB Positive 2011-11-21 [17]
 Kenya 08B+ Stable 2011-11-21 [17]
 Kuwait 19AA Stable 2011-11-21 [17]
 Latvia 15A- Stable 2014-06-20 [34]
 Lebanon 07B Stable 2011-11-21 [17]
 Lesotho 09BB- Negative 2011-11-21 [17]
 Lithuania 15A- Stable 2014-06-25 [35]
 Luxembourg 21AAA Stable 2011-11-21 [17]
 Macedonia 11BB+ Stable 2011-11-21 [17]
 Malaysia 15A- Stable 2011-11-21 [17]
 Malta 17A+ Stable 2011-11-21 [17]
 Mexico 14BBB+ Stable 2013-04-08 [17]
 Mongolia 08B+ Stable 2011-11-21 [17]
 Morocco 12BBB- Stable 2011-11-21 [17]
 Mozambique 07B Stable 2011-11-21 [17]
 Namibia 12BBB- Positive 2011-11-21 [17]
 Netherlands 21AAA Stable 2011-11-21 [17]
 New Zealand 19AA Stable 2011-11-21 [17]
 Nigeria 09BB- Stable 2011-11-21 [17]
 Norway 21AAA Stable 2011-11-21 [17]
 Pakistan 07B Stable 2015-09-15 [17][36]
 Panama 13BBB Stable 2011-11-21 [17]
 Peru 14BBB+ Stable 2013-10-23 [17]
 Philippines 12BBB- Stable 2013-03-27 [17][37]
 Poland 15A- Stable 2013-02-21 [17]
 Portugal 11BB+ Positive 2011-11-21 [17]
 Ras Al Khaimah, UAE 16A Stable 2011-11-21 [17]
 Romania 12BBB- Stable 2011-11-21 [17]
 Russia 12BBB- Negative 2015-01-09 [38]
 Rwanda 07B Stable 2011-11-21 [17]
 San Marino 14 BBB+ Negative 2012-07-23 [17]
 Saudi Arabia 19AA Stable 2014-03-21 [17]
 Serbia 08BB- Stable 2016-06-17 [17][39]
 Seychelles 07B Stable 2011-11-21 [17]
 Singapore 21AAA Stable 2011-11-21 [17]
 Slovakia 17A+ Stable 2011-11-21 [17]
 Slovenia 15 A- Stable 2016-09-26 [17]
 South Africa 13BBB Stable 2013-01-10 [17]
 South Korea 18AA- Stable 2012-09-07 [40]
 Spain 14BBB+ Stable 2014-04-25 [17]
 Sri Lanka 09BB- Stable 2011-11-21 [17]
 Suriname 09 BB- Stable 2012-07-10 [17]
 Sweden 21AAA Stable 2011-11-21 [17]
  Switzerland 21AAA Stable 2011-11-21 [17]
 Taiwan 17A+ Stable 2011-11-21 [17]
 Thailand 14BBB+ Stable 2013-03-08 [17]
 Tunisia 09BB- Negative 2013-10-30 [17]
 Turkey 12BBB- Negative 2016-08-19 [17]
 Uganda 07B Stable 2011-11-21 [17]
 Ukraine 04B- Stable 2016-11-11 [17]
 United Kingdom 20AA Negative 2016-06-27 [41]
 United States 21AAA Stable 2014-03-21 [42]
 Uruguay 12BBB- Stable 2011-11-21 [17]
 Venezuela 05CCC Negative 2014-12-18 [17]
 Vietnam 08B+ Stable 2011-11-21 [17]
 Zambia 08B+ Stable 2011-11-21 [17]

Moody's[edit]

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.[43]

Financial ratings of European States by Moody's on 1 July 2016 (last change 14 May)
Country Rating Outlook Date Ref.
 Albania 08B1 Stable 2011-08-05 [44]
 Angola 08B1 Negative 2016-04-29 [44]
 Argentina 06B3 Stable 2016-04-15 [45][44]
 Armenia 08B1 Stable 2016-03-18 [44]
 Australia 21Aaa Stable 2011-08-05 [44]
 Austria 21Aa1 Stable 2016-06-24 [44][46]
 Azerbaijan 11Ba1 Negative 2016-04-29 [44]
 Bahamas 13Baa2 Negative 2016-07-01 [44]
 Bahrain 10Ba2 Negative 2016-05-14 [44]
 Bangladesh 09Ba3 Stable 2011-08-05 [44]
 Barbados 05Caa1 Stable 2016-04-01 [44]
 Belarus 05Caa1 Stable 2016-06-17 [44]
 Belgium 18Aa3 Stable 2014-03-07 [47]
 Belize 04Caa2 Stable 2015-06-17 [44]
 Bermuda 16A2 Stable 2016-06-03 [44]
 Bolivia 09Ba3 Negative 2016-06-10 [44]
 Bosnia and Herzegovina 06B3 Stable 2016-02-28 [44]
 Botswana 16A2 Stable 2016-04-11 [44]
 Brazil 10Ba2 Negative 2016-02-24 [48]
 Bulgaria 13Baa2 Stable 2011-08-05 [44]
 Cambodia 07B2 Stable 2011-08-05 [44]
 Canada 21Aaa Stable 2011-08-05 [44]
 Cayman Islands 18Aa3 Stable 2011-08-05 [44]
 Chile 18Aa3 Stable 2011-08-05 [44]
 China 18Aa3 Negative 2016-03-02 [44]
 Colombia 13Baa2 Stable 2014-07-28 [44][49]
 Costa Rica 11Ba1 Negative 2016-02-08 [44]
 Croatia 10Ba2 Negative 2016-03-11 [44]
 Cuba 04Caa2 Positive 2015-12-10 [44]
 Cyprus 08B1 Positive 2016-11-15 [44][50]
 Czech Republic 17A1 Stable 2012-07-18 [44]
 Denmark 21Aaa Stable 2011-08-05 [44]
 Dominican Republic 08B1 Positive 2016-06-29 [44]
 Ecuador 06B3 Stable 2015-10-02 [44]
 Egypt 06B3 Stable 2015-04-07 [51][52]
 El Salvador 08B1 Negative 2016-08-11 [44]
 Estonia 17A1 Stable 2011-08-05 [44]
 Ethiopia 08B1 Stable 2015-05-29 [53]
 Fiji 08B1 Positive 2016-05-06 [44]
 Finland 20Aa1 Stable 2016-06-03 [44]
 France 19Aa2 Stable 2015-09-18 [44][54]
 Georgia 09Ba3 Stable 2011-08-05 [44]
 Germany 21Aaa Stable 2013-09-06 [55]
 Greece 03Caa3 Stable 2015-09-25 [44]
 Guatemala 11Ba1 Stable 2011-08-05 [44]
 Honduras 07B2 Positive 2016-05-24 [44]
 Hong Kong 20Aa1 Negative 2016-03-12 [44]
 Hungary 12Baa3 Stable 2016-11-05 [56]
 Iceland 13Baa2 Positive 2016-06-10 [44]
 India 12Baa3 Positive 2011-08-05 [44]
 Indonesia 12Baa3 Stable 2012-01-18 [44]
 Ireland 15A3 Positive 2016-05-14 [44][57]
 Isle of Man 20Aa1 Negative 2016-06-30 [58]
 Israel 17A1 Stable 2011-08-05 [44]
 Italy 13Baa2 Stable 2013-02-15 [44][59]
 Jamaica 04Caa2 Positive 2015-05-28 [44]
 Japan 17A1 Stable 2014-12-01 [44]
 Jordan 08B1 Stable 2013-06-26 [44]
 Kazakhstan 12Baa3 Negative 2016-04-22 [44]
 Kuwait 19Aa2 Negative 2016-05-14 [44]
 Latvia 15A3 Stable 2014-06-14 [60]
 Lebanon 07B2 Negative 2016-06-02 [44]
 Lithuania 15A3 Stable 2015-05-09 [44]
 Luxembourg 21Aaa Stable 2014-02-28 [61]
 Macao 18Aa3 Negative 2016-05-25 [44]
 Malaysia 15A3 Stable 2011-08-05 [44]
 Maldives 07B2 Stable 2016-09-02 [62]
 Malta 15A3 Stable 2013-08-05 [44]
 Mauritius 14Baa1 Stable 2015-05-29 [63]
 Mexico 15A3 Negative 2016-03-31 [44]
 Moldova 06B3 Negative 2015-07-31 [44]
 Mongolia 07B2 Negative 2016-01-14 [44]
 Montenegro 09Ba3 Stable 2011-08-05 [44]
 Morocco 11Ba1 Stable 2011-08-05 [44]
 Netherlands 21Aaa Stable 2014-03-07 [44]
 New Zealand 21Aaa Stable 2011-08-05 [44]
 Nicaragua 07B2 Stable 2015-07-10 [44]
 Norway 21Aaa Stable 2011-08-05 [44]
 Oman 14Baa1 Stable 2016-05-14 [44]
 Pakistan 06B3 Stable 2015-06-11 [44][64]
 Panama 13Baa2 Stable 2012-10-31 [44]
 Papua New Guinea 07B2 Stable 2016-04-25 [44]
 Paraguay 11Ba1 Stable 2016-06-21 [44]
 Peru 15A3 Stable 2014-07-02 [44]
 Philippines 13Baa2 Stable 2014-12-11 [44][65]
 Poland 16A2 Negative 2016-05-14 [44][66]
 Portugal 11Ba1 Stable 2014-07-25 [44]
 Puerto Rico 01C Negative 2015-12-22 [44]
 Qatar 19Aa2 Negative 2016-05-14 [44]
 Romania 12Baa3 Positive 2015-12-11 [44][67]
 Russia 11Ba1 Negative 2016-04-22 [68]
 Saudi Arabia 17A1 Stable 2016-05-14 [44]
 Senegal 08B1 Positive 2016-06-03 [44]
 Serbia 08B1 Stable 2013-07-14 [44]
 Singapore 21Aaa Stable 2011-08-05 [44]
 Slovakia 16A2 Stable 2013-10-04 [44]
 Slovenia 12Baa3 Stable 2015-01-23 [44]
 South Africa 13Baa2 Negative 2016-05-06 [44][69]
 South Korea 19Aa2 Stable 2015-12-18 [44]
 Spain 13Baa2 Stable 2016-07-29 [44]
 Sri Lanka 08B1 Negative 2016-06-21 [44]
 St. Vincent & the Grenadines 08B1 Stable 2011-08-05 [44]
 Suriname 08B1 Stable 2016-04-22 [44]
 Sweden 21Aaa Stable 2011-08-05 [44]
  Switzerland 21Aaa Stable 2011-08-05 [44]
 Taiwan 18Aa3 Stable 2011-08-05 [44]
 Thailand 14Baa1 Stable 2011-08-05 [44]
 Trinidad and Tobago 12Baa3 Negative 2016-04-15 [70]
 Tunisia 09Ba3 Stable 2016-02-29 [44]
 Turkey 12Ba1 Stable 2016-09-24 [71]
 Ukraine 03Caa3 Stable 2015-11-19 [44]
 United Arab Emirates 19Aa2 Negative 2016-05-14 [44]
 United Kingdom 20Aa1 Negative 2013-02-22 [44]
 United States 21Aaa Stable 2013-07-18 [44][72]
 Uruguay 13Baa2 Negative 2016-06-24 [44]
 Venezuela 03Caa3 Negative 2015-01-13 [44]
 Vietnam 08B1 Stable 2014-07-29 [44]

Dominion Bond Rating Service (DBRS)[edit]

For DBRS, a bond is considered investment grade if its credit rating is BBB(low) or higher. Bonds rated BB(high) and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.

DBRS European Sovereign Debt Ratings as of Aug. 19, 2013
DBRS Global Sovereign Debt Ratings as of Aug. 19, 2013
Country Rating Trend Date Ref.
 Argentina 02 D N/A 2014-07-31 [73]
 Australia 22AAA Stable 2014-07-31 [73]
 Austria 22AAA Stable 2014-06-13 [73]
 Belgium 21AA(high) Stable 2014-03-21 [73]
 Brazil 14BBB Stable 2014-08-01 [73]
 Canada 22AAA Stable 2014-07-18 [73]
 Chile 19AA(low) Stable 2014-02-28 [73]
 Colombia 14BBB Stable 2014-04-30 [73]
 Cyprus 07B(low) Stable 2014-06-27 [73]
 Denmark 22AAA Stable 2014-07-25 [73]
 European Union 22AAA Stable 2014-07-11 [73]
 Finland 22AAA Stable 2014-05-16 [73]
 France 22AAA Stable 2014-05-30 [73]
 Germany 22AAA Stable 2014-04-11 [73]
 Greece 08B Stable 2014-07-11 [73]
 India 13BBB(low) Stable 2013-09-30 [73]
 Ireland 16A(low) Stable 2014-03-28 [73]
 Italy 16A(low) Negative 2014-04-11 [73]
 Japan 18A(high) Stable 2013-11-20 [73]
 Mexico 15BBB(high) Stable 2014-03-31 [73]
 Netherlands 22AAA Stable 2014-04-25 [73]
 Norway 22AAA Stable 2014-07-04 [73]
 Peru 15BBB(high) Stable 2014-05-30 [73]
 Portugal 13BBB(low) Stable 2014-05-23 [73]
 Spain 16A(low) Negative 2014-04-11 [73]
 Sweden 22AAA Stable 2014-06-13 [73]
  Switzerland 22AAA Stable 2013-12-27 [73]
 Turkey 13BBB(low) Stable 2014-07-28 [73]
 United Kingdom 22AAA Stable 2014-07-18 [73]
 United States 22AAA Stable 2014-04-22 [73]
 Uruguay 13BBB(low) Stable 2014-05-30 [73]

JCR[edit]

Japan Credit Rating Agency (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.

Financial ratings of European States by JCR Credit Rating on 8 July 2013
Country Rating Outlook Date Ref.
 Australia 19AAA Stable 2012-07-02 [74]
 Belgium 19AAA Stable 2013-03-25 [74]
 Brazil 11BBB Stable 2012-11-15 [74]
 Canada 19AAA Stable 2012-09-04 [74]
 Czech Republic 14A Stable 2012-12-21 [74]
 Denmark 19AAA Stable 2013-02-14 [74]
 Finland 19AAA Stable 2013-04-19 [74]
 France 19AAA Stable 2013-04-26 [74]
 Germany 19AAA Stable 2013-02-28 [74]
 Hong Kong 18AA+ Stable 2012-09-05 [74]
 Hungary 11BBB Positive 2016-02-17 [74]
 India 12BBB+ Stable 2012-11-30 [74]
 Indonesia 10BBB- Stable 2012-11-13 [74]
 Italy 16AA- Negative 2013-04-10 [74]
 Japan 19AAA Stable 2013-03-15 [74]
 Malaysia 14A Stable 2012-10-19 [74]
 Mexico 13A- Stable 2012-12-21 [74]
 Netherlands 19AAA Stable 2012-10-04 [74]
 Norway 19AAA Stable 2012-08-02 [74]
 Philippines 11BBB+ Stable 2015-07-07 [74][75]
 Poland 14A Stable 2013-03-01 [74]
 Portugal 14A Stable 2013-03-15 [74]
 Romania 07BBB- Stable 2013-03-28 [74]
 Russia 12BBB- Negative 2014-12-26 [74]
 Singapore 19AAA Stable 2012-02-01 [74]
 South Korea 15A+ Stable 2013-01-24 [74]
 Slovakia 15A+ Stable 2012-11-08 [74]
 Slovenia 16AA- Negative 2012-06-13 [74]
 Spain 17AA Negative 2013-04-12 [74]
 Thailand 14A- Stable 2013-04-02 [74]
 Turkey 10BBB- Stable 2013-05-23 [74]
 United Kingdom 19AAA Stable 2012-06-29 [74]
 United States 19AAA Stable 2012-03-09 [74]

Dagong[edit]

Dagong is a credit rating agency based in China.

Financial ratings of European States by Dagong Global Credit Rating on 30 May 2014

World map ratings by Dagong (Jul 2013)

Country Rating Outlook Date Ref.
 Algeria 10BBB- Stable 2014-10 [76]
 Angola 07BB- Stable 2013-05-31 [77]
 Argentina 00D Negative 2014-07-31 [77]
 Australia 18AA+ Stable 2013-11 [76]
 Austria 18AA+ Stable 2014-12 [76]
 Bahrain 13A- Stable 2014-08 [76]
 Bangladesh 07BB- Stable 2013-11 [76]
 Belarus 07BB- Negative 2014-01 [76]
 Belgium 15A+ Stable 2014-10 [76]
 Bolivia 10BBB- Stable 2013-05-15 [77]
 Bosnia and Herzegovina 05B Stable 2014-05 [76]
 Botswana 14A Stable 2013-04-07 [77]
 Brazil 13A- Negative 2014-01 [76]
 Bulgaria 10BBB- Stable 2013-09 [76]
 Cambodia 05B Stable 2013-03-15 [77]
 Canada 18AA+ Stable 2014-04 [76]
 Cayman Islands 16AA- Stable 2013-11 [76]
 Chile 16AA- Stable 2014-02 [76]
 China 19AAA Stable 2014-09 [76]
 Colombia 12BBB+ Stable 2013-07-24 [78]
 Croatia 09BB+ Negative 2014-05 [76]
 Czech Republic 15A+ Stable 2013-09 [76]
 Democratic Republic of Congo 03CCC Stable 2013-05-16 [77]
 Denmark 18AA+ Stable 2014-01 [76]
 Ecuador 04B- Stable 2014-07 [76]
 Egypt 04B- Stable 2015-06 [77][79]
 Estonia 14A Stable 2013-11 [76]
 Ethiopia 03CCC Stable 2014-03 [76]
 Finland 18AA+ Stable 2014-11 [76]
 France 15A+ Negative 2014-01 [76]
 Georgia 07BB- Stable 2014-03 [76]
 Germany 18AA+ Stable 2013-12 [76]
 Ghana 05B Stable 2013-04-24 [77]
 Greece 02CC Stable 2014-03 [76]
 Hong Kong 19AAA Stable 2013-12 [76]
 Hungary 10BBB- Stable 2014-07 [76]
 Iceland 07BB- Stable 2012-10 [77]
 India 11BBB Positive 2014-12 [76]
 Indonesia 10BBB- Negative 2014-01 [76]
 Ireland 11BBB Stable 2014-10 [76]
 Israel 13A- Stable 2014-01 [76]
 Italy 10BBB- Negative 2014-01 [76]
 Japan 15A+ Negative 2014-08 [76]
 Jordan 04B- Stable 2013-05-15 [77]
 Kazakhstan 10BBB- Stable 2014-03 [76]
 Kenya 05B Stable 2014-07 [76]
 Kuwait 17AA Stable 2014-06 [76]
 Latvia 10BBB- Stable 2014-01 [76]
 Lithuania 11BBB Positive 2014-08 [76]
 Luxembourg 19AAA Stable 2013-12 [76]
 Macao 18AA+ Stable 2013-12 [76]
 Madagascar 03CCC Stable 2012-05 [77]
 Malaysia 15A+ Stable 2014-07 [76]
 Malta 13A- Negative 2014-03 [76]
 Mauritius 11BBB Stable 2012-07 [77]
 Mexico 11BBB Stable 2013-11 [76]
 Micronesia 07BB- Stable 2013-02 [77]
 Mongolia 06BB- Stable 2013-12 [76]
 Morocco 11BBB Negative 2014-03 [76]
 Netherlands 18AA+ Stable 2015-01 [76]
 New Zealand 17AA Negative 2014-01 [77]
 Nigeria 09BB+ Stable 2014-07 [76]
 Norway 19AAA Stable 2014-09 [76]
 Oman 16AA- Stable 2014-08 [76]
 Pakistan 03CCC- Negative 2014-04 [76]
 Panama 13A- Stable 2013-07-01 [77]
 Paraguay 07BB- Stable 2014-05 [76]
 Peru 12BBB+ Stable 2014-09 [76]
 Philippines 07BB- Negative 2014-01 [76]
 Poland 13A- Negative 2013-12 [76]
 Portugal 08BB Negative 2013-09 [76]
 Qatar 16AA- Stable 2014-07 [76]
 Romania 08BB Stable 2014-10 [76]
 Russia 14A Stable 2013-11 [76]
 Saudi Arabia 17AA Stable 2014-08 [76]
 Serbia 07BB- Negative 2013-11 [76]
 Singapore 19AAA Stable 2014-12 [76]
 South Africa 13A- Negative 2013-11 [76]
 South Korea 16AA- Stable 2013-11 [76]
 South Sudan 02CC Stable 2013-02 [77]
 Spain 12BBB+ Stable 2014-05 [76]
 Sri Lanka 06B+ Negative 2013-03-18 [77]
 Sudan 01C Stable 2013-02 [77]
 Suriname 09BB+ Stable 2013-05-20 [77]
 Sweden 18AA+ Stable 2014-01 [76]
  Switzerland 19AAA Stable 2013-11 [76]
 Taiwan 16AA- Stable 2013-03-06 [77]
 Thailand 11BBB Negative 2014-05 [76]
 Tunisia 08BB Negative 2014-07 [76]
 Turkey 07BB- Stable 2013-12 [76]
 Turkmenistan 12BBB+ Stable 2013-05-14 [77]
 United Kingdom 15A+ Stable 2016-07 [76]
 United States 13A- Stable 2014-12 [76]
 Ukraine 03CCC Negative 2014-05 [76]
 United Arab Emirates 12BBB+ Stable 2014-02 [76]
 Uruguay 09BB+ Stable 2014-12 [76]
 Uzbekistan 11BBB 2013-03-27 [77]
 Venezuela 07CCC Negative 2016-12-05 [77][80]
 Vietnam 06B+ Stable 2014-05 [76]
 Yemen 03CCC Negative 2013-05-23 [77]

China Chengxin[edit]

China Chengxin Credit Rating Group is a credit rating agency based in China,

Country Rating Outlook Date Ref.
 Argentina 05Bg Stable 2014-08 [81]
 Australia 19AAAg Stable 2012-08 [81]
 Brazil 12BBBg+ Stable 2012-08 [81]
 Canada 19AAAg Stable 2012-08 [81]
 China 17AAg+ Stable 2012-08 [81]
 Denmark 17AAg+ Stable 2012-08 [81]
 France 16AAg Stable 2012-08 [81]
 Germany 17AAg+ Stable 2012-08 [81]
 Greece 01CCCg N/A 2014-04 [81]
 Iceland 10BBBg- Stable 2012-08 [81]
 India 11BBBg Stable 2012-08 [81]
 Indonesia 10BBBg- Stable 2012-08 [81]
 Ireland 10BBg+ Negative 2012-08 [81]
 Italy 11BBBg Stable 2013-03 [82]
 Japan 18AAg+ Stable 2012-08 [81]
 Mexico 12BBBg+ Stable 2012-08 [81]
 Netherlands 18AAg+ Stable 2012-08 [81]
 Norway 19AAAg Stable 2012-08 [81]
 Portugal 07BBg- Negative 2012-08 [81]
 Russia 14Ag Stable 2012-08 [81]
 Saudi Arabia 18AAg+ Stable 2013-07 [81]
 Singapore 19AAAg Stable 2013-07 [81]
 South Africa 14Ag Stable 2013-07 [81]
 South Korea 16AAg- Stable 2013-07 [81]
 Spain 09BBg+ Negative 2013-03 [83]
  Switzerland 19AAAg Stable 2012-08 [81]
 Thailand 12BBBg+ Stable 2012-08 [81]
 Turkey 08BBg Stable 2012-08 [81]
 United Kingdom 18AAg+ Stable 2013-03 [84]
 United States 19AAAg Stable 2012-08 [81]

Not rated[edit]

UN member states that have not been assigned a credit rating by any of the seven rating agencies.

Country Details
 Afghanistan
 Antigua and Barbuda
 Bhutan
 Brunei Darussalam
 Burundi
 Central African Republic
 Chad
 Comoros
 Cote d'Ivoire
 Djibouti
 Dominica
 Equatorial Guinea
 Eritrea
 Gambia Fitch suspended Gambia’s credit rating after its only traded international bond expired[85]
 Guinea
 Guinea-Bissau
 Guyana
 Haiti
 Iran Fitch has withdrawn all ratings for Iran following the maturity and full repayment of the last outstanding sovereign eurobond on 21 April 2008.[86]
 Kiribati
 Kyrgyzstan
 Laos
 Liberia
 Libya Fitch has withdrawn all ratings for Libya because it doesn't have enough information to maintain coverage of the issuer.[87]
 Malawi
 Mali Mali was given a credit rating in 2004 as part of a UN development initiative,[88] but the rating was later withdrawn.[89]
 Marshall Islands
 Mauritania
 Monaco
 Myanmar
 Nauru
   Nepal
 Niger
 North Korea
 Palau
 Saint Kitts and Nevis
 Saint Lucia
 Samoa
 Sao Tome and Principe
 Sierra Leone
 Solomon Islands
 Somalia
 Swaziland
 Syria
 Tajikistan
 Tanzania
 Timor Leste
 Togo
 Tonga
 Tuvalu
 Vanuatu
 Zimbabwe

See also[edit]

References[edit]

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