List of countries by credit rating

From Wikipedia, the free encyclopedia

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 administrative divisions not issuing sovereign bonds, but it excludes regions, provinces and municipalities issuing sub-sovereign bonds.

Standard & Poor's[edit]

Map of S&P's sovereign long-term foreign credit ratings as of March 2022.
Legend:
  AAA   AA+   AA   AA-
  A+   A   A-   BBB+
  BBB   BBB-   BB+   BB
  BB-   B+   B   B-
  CCC+   CCC   CCC-   SD/D

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. An SD rating indicates that the country has selectively defaulted on some outstanding obligations[1][2]

Country/Territory Rating Outlook Date Ref.
 Abu Dhabi, UAE
AA
Stable Steady 30 May 2023 [3]
 Albania
BB-
Positive Increase 23 March 2024 [4]
 Andorra
BBB+
Positive Increase 12 May 2023 [5]
 Angola
B-
Stable Steady 4 February 2022 [6]
 Argentina
CCC
Stable Steady 15 March 2024 [7]
 Armenia
BB-
Stable Steady 25 August 2023 [8]
 Aruba
BBB
Stable Steady 15 March 2021 [9]
 Australia
AAA
Stable Steady 6 June 2021 [10]
 Austria
AA+
Stable Steady 26 August 2022 [11]
 Azerbaijan
BB+
Stable Steady 22 January 2021 [12]
 Bahamas
B+
Stable Steady 12 November 2021 [13]
 Bahrain
B+
Stable Steady 24 November 2023 [14]
 Bangladesh
BB-
Negative Decrease 24 July 2023 [11]
 Barbados
B-
Positive Increase 26 October 2023 [15]
 Belgium
AA
Stable Steady 28 February 2014 [11]
 Belize
B-
Stable Steady 9 November 2021 [16]
 Benin
B+
Positive Increase 20 October 2023 [17]
 Bermuda
A+
Stable Steady 28 April 2015 [11]
 Bolivia
CCC+
Negative Decrease 22 November 2023 [18]
 Bosnia and Herzegovina
B+
Stable Steady 4 August 2023 [19]
 Botswana
BBB+
Stable Steady 17 September 2021 [20]
 Brazil
BB
Stable Steady 14 June 2023 [21]
 Bulgaria
BBB
Positive Increase 24 November 2023 [22]
 Burkina Faso
CCC+
Stable Steady 26 January 2022 [23]
 Cape Verde
B-
Stable Steady 19 February 2021 [11]
 Cameroon
CCC+
Stable Steady 10 August 2023 [24]
 Canada
AAA
Stable Steady 29 July 2002 [11]
 Chile
A
Negative Decrease 19 October 2023 [25]
 China
A+
Stable Steady 21 September 2017 [26]
 Colombia
BB+
Negative Decrease 19 May 2021 [27]
 Cook Islands
B+
Stable Steady 11 November 2020 [11]
 Costa Rica
BB-
Stable Steady 27 October 2023 [28]
 Ivory Coast
BB-
Stable Steady 6 July 2021 [29]
 Croatia
BBB+
Positive Increase 15 September 2023 [30]
 Curaçao
BBB-
Stable Steady 24 February 2022 [31]
 Cyprus
BBB
Positive Increase 1 September 2023 [11]
 Czech Republic
AA-
Stable Steady 24 August 2011 [11]
 DR Congo
B-
Stable Steady 28 January 2022 [32]
 Denmark
AAA
Stable Steady 27 February 2001 [11]
 Dominican Republic
BB
Stable Steady 19 December 2022 [33]
 Ecuador
B-
Negative Decrease 1 September 2020 [34]
 Egypt
B-
Stable Steady 20 October 2023 [35]
 El Salvador
B-
Stable Steady 7 November 2023 [36]
 Estonia
AA-
Negative Decrease 6 December 2022 [11]
 Ethiopia
SD
15 December 2023 [37]
 Falkland Islands
A+
Stable Steady 22 September 2021 [38]
 Fiji
B+
Stable Steady 22 September 2021 [39]
 Finland
AA+
Stable Steady 16 September 2016 [11]
 France
AA
Negative Decrease 2 December 2022 [11]
 Georgia
BB
Stable Steady 25 February 2022 [40]
 Germany
AAA
Stable Steady 13 January 2012 [11]
 Ghana
SD
20 December 2022 [41]
 Greece
BBB-
Positive Increase 19 April 2024 [42]
 Guatemala
BB
Stable Steady 11 April 2023 [43]
 Guernsey
A+
Stable Steady 14 January 2023 [44]
 Honduras
BB-
Stable Steady 29 September 2023 [11]
 Hong Kong
AA+
Stable Steady 21 September 2017 [45]
 Hungary
BBB-
Stable Steady 27 January 2023 [46]
 Iceland
A+
Stable Steady 10 November 2023 [47]
 India
BBB-
Stable Steady 26 September 2014 [11]
 Indonesia
BBB
Stable Steady 27 April 2022 [48]
 Iraq
B-
Stable Steady 17 February 2023 [49]
 Ireland
AA
Stable Steady 19 May 2023 [50]
 Israel
AA-
Negative Decrease 24 October 2023 [51]
 Italy
BBB
Stable Steady 26 July 2022 [52]
 Jamaica
BB-
Stable Steady 13 September 2023 [53]
 Japan
A+
Stable Steady 9 June 2020 [54]
 Jersey
AA-
Stable Steady 16 January 2021 [55]
 Jordan
B+
Stable Steady 20 October 2017 [56]
 Kazakhstan
BBB-
Stable Steady 3 March 2023 [57]
 Kenya
B
Negative Decrease 24 February 2023 [58]
 Kuwait
A+
Stable Steady 15 July 2022 [59]
 Latvia
A+
Negative Decrease 6 December 2022 [60]
 Lebanon
SD
11 March 2020 [61]
 Liechtenstein
AAA
Stable Steady 26 February 2016 [11]
 Lithuania
A+
Negative Decrease 2 December 2022 [62]
 Luxembourg
AAA
Stable Steady 14 January 2013 [11]
 Madagascar
B-
Stable Steady 9 October 2023 [63]
 Malaysia
A-
Stable Steady 27 June 2022 [64]
 Malta
A-
Stable Steady 13 March 2020 [65]
 Mauritius
BBB-
Stable Steady 21 July 2023 [66]
 Mexico
BBB
Stable Steady 6 July 2022 [11]
 Mongolia
B
Stable Steady 9 November 2018 [67]
 Montenegro
B
Stable Steady 5 March 2021 [68]
 Montserrat
BBB-
Stable Steady 2 September 2011 [11]
 Morocco
BB+
Stable Steady 2 April 2021 [69]
 Mozambique
CCC+
Stable Steady 22 November 2019 [70]
 Netherlands
AAA
Stable Steady 20 November 2015 [11]
 New Zealand
AA+
Stable Steady 21 February 2021 [71]
 Nicaragua
B
Stable Steady 25 October 2022 [11]
 Nigeria
B-
Stable Steady 4 August 2023 [72]
 North Macedonia
BB-
Stable Steady 24 May 2013 [11]
 Norway
AAA
Stable Steady 8 November 1990 [73]
 Oman
BB+
Stable Steady 29 September 2023 [11]
 Pakistan
CCC+
Stable Steady 22 December 2022 [74]
 Panama
BB+
Negative Decrease 7 November 2023 [75]
 Papua New Guinea
B-
Stable Steady 3 June 2021 [76]
 Paraguay
BB
Stable Steady 15 June 2016 [11]
 Peru
BBB
Negative Decrease 12 December 2022 [77]
 Philippines
BBB+
Stable Steady 30 April 2019 [78]
 Poland
A-
Stable Steady 12 October 2018 [11]
 Portugal
A-
Positive Increase 1 March 2024 [79]
 Qatar
AA
Stable Steady 4 November 2022 [80]
 Ras Al Khaimah, UAE
A-
Positive Increase 16 October 2023 [81]
 Congo
B-
Stable Steady 28 July 2023 [11]
 Romania
BBB-
Stable Steady 16 April 2021 [11]
 Rwanda
B+
Stable Steady 27 January 2023 [82]
 Saint Helena
BBB-
Stable Steady 31 March 2023 [83]
 Saudi Arabia
A
Stable Steady 17 March 2023 [84]
 Senegal
B+
Stable Steady 6 December 2019 [85]
 Serbia
BB+
Stable Steady 10 June 2022 [86]
 Sharjah, UAE
BBB-
Stable Steady 17 November 2023 [87]
 Singapore
AAA
Stable Steady 6 March 1995 [88]
 Slovakia
A+
Stable Steady 19 May 2023 [89]
 Slovenia
AA-
Stable Steady 14 June 2019 [90]
 South Africa
BB-
Stable Steady 8 March 2023 [91]
 South Korea
AA
Stable Steady 7 August 2016 [92]
 Spain
A
Stable Steady 18 March 2022 [11]
 Sri Lanka
SD
25 April 2022 [93]
 Suriname
CCC+
Stable Steady 6 December 2023 [11]
 Sweden
AAA
Stable Steady 16 February 2004 [11]
 Switzerland
AAA
Stable Steady 26 June 1989 [11]
 Taiwan
AA+
Stable Steady 29 April 2022 [94]
 Tajikistan
B-
Stable Steady 17 February 2023 [95]
 Thailand
BBB+
Stable Steady 13 April 2020 [96]
 Togo
B
Stable Steady 17 March 2023 [97]
 Trinidad and Tobago
BBB-
Stable Steady 21 July 2022 [98]
 Turkey
B
Positive Increase 30 November 2023 [99]
 Turks and Caicos Islands
BBB+
Stable Steady 29 March 2022 [100]
 Uganda
B-
Stable Steady 9 December 2022 [101]
 Ukraine
CCC
Negative Decrease 15 August 2022 [102]
 United Kingdom
AA
Stable Steady 21 April 2023 [103]
 United States
AA+
Stable Steady 10 June 2013 [11]
 Uruguay
BBB+
Stable Steady 26 April 2023 [104]
 Uzbekistan
BB-
Stable Steady 4 June 2021 [105]
 Vietnam
BB+
Stable Steady 27 May 2022 [11]
 Zambia
SD
21 October 2020 [11]

Fitch[edit]

Map of Fitch's sovereign long-term foreign credit ratings.
Legend:
  AAA   AA+   AA   AA-
  A+   A   A-   BBB+
  BBB   BBB-   BB+   BB
  BB-   B+   B   B-
  CCC+   CCC   CCC-   RD

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.[106] Fitch Ratings typically does not assign outlooks to sovereign ratings below B− (CCC and lower) or modifiers. CCC indicates 'Substantial Credit Risk' where 'default is a real possibility'. CC indicates 'Very High Levels of Credit Risk' where 'default of some kind appears probable'.[107]

Country/Territory Rating Outlook Date Ref.
 Abu Dhabi, UAE
AA
Stable Steady 11 July 2023 [108]
 Andorra
A-
Stable Steady 27 October 2023 [109]
 Angola
B-
Stable Steady 15 December 2023 [110]
 Argentina
CC
13 June 2023 [111]
 Armenia
BB-
Stable Steady 28 July 2023 [112]
 Aruba
BB+
Stable Steady 16 March 2023 [113]
 Australia
AAA
Stable Steady 9 November 2023 [114]
 Austria
AA+
Stable Steady 25 August 2023 [115]
 Azerbaijan
BB+
Positive Increase 15 September 2023 [116]
 Bahrain
B+
Stable Steady 17 July 2023 [117]
 Bangladesh
BB-
Negative Decrease 25 September 2023 [118]
 Barbados
B
Positive Increase 17 October 2023 [119]
 Belarus
RD
Ratings withdrawn Decrease 6 October 2023 [120]
 Belgium
AA-
Negative Decrease 1 September 2023 [121]
 Benin
B+
Stable Steady 8 September 2023 [122]
 Bolivia
CCC
No outlook at level 6 February 2024 [123]
 Brazil
BB-
Stable Steady 26 July 2023 [124]
 Bulgaria
BBB
Positive Increase 27 October 2023 [125]
 Cape Verde
B-
Positive Increase 10 November 2023 [126]
 Cameroon
B
Negative Decrease 17 November 2023 [127]
 Canada
AA+
Stable Steady 19 December 2023 [128]
 Chile
A-
Stable Steady 13 December 2023 [129]
 China
A+
31 August 2023 [130]
 Colombia
BB+
Stable Steady 30 June 2023 [131]
 Costa Rica
BB-
Stable Steady 2 March 2023 [132]
 Ivory Coast
BB-
Stable Steady 4 August 2023 [133]
 Croatia
BBB+
Positive Increase 6 October 2023 [134]
 Cyprus
BBB
Positive Increase 8 February 2023 [135]
 Czech Republic
AA-
Negative Decrease 25 August 2023 [136]
 Denmark
AAA
Stable Steady 3 November 2023 [137]
 Dominican Republic
BB-
Positive Increase 29 November 2023 [138]
 Ecuador
CCC+
16 August 2023 [139]
 Egypt
B-
Stable Steady 3 November 2023 [140]
 El Salvador
CCC+
5 May 2023 [141]
 Estonia
A+
Stable Steady 28 July 2023 [142]
 Ethiopia
RD
27 December 2023 [143]
 European Union
AAA
Stable Steady 14 February 2023 [144]
 Finland
AA+
Stable Steady 11 August 2023 [145]
 France
AA-
Stable Steady 27 October 2023 [146]
 Gabon
B-
Stable Steady 24 January 2024 [147]
 Georgia
BB
Positive Increase 14 July 2023 [148]
 Germany
AAA
Stable Steady 15 September 2023 [149]
 Ghana
RD
1 November 2023 [150]
 Greece
BBB-
Stable Steady 1 December 2023 [151]
 Guatemala
BB
Stable Steady 16 February 2023 [152]
 Honduras
B
Stable Steady 30 August 2023 [153]
 Hong Kong
AA-
Stable Steady 30 March 2023 [154]
 Hungary
BBB
Negative Decrease 15 December 2023 [155]
 Iceland
A
Stable Steady 1 September 2023 [156]
 India
BBB-
Stable Steady 20 December 2023 [157]
 Indonesia
BBB
Stable Steady 15 March 2024 [158]
 Iraq
B-
Stable Steady 4 December 2023 [159]
 Ireland
AA-
Positive Increase 12 January 2023 [160]
 Israel
A+
Rating Watch Negative Decrease 17 October 2023 [161]
 Italy
BBB
Stable Steady 10 November 2023 [162]
 Jamaica
B+
Positive Increase 7 March 2023 [163]
 Japan
A
Stable Steady 31 October 2023 [164]
 Jordan
BB-
Stable Steady 10 November 2023 [165]
 Kazakhstan
BBB
Stable Steady 17 November 2023 [166]
 Kenya
B
Negative Decrease 20 July 2023 [167]
 Kosovo
BB-
Stable Steady 19 April 2024 [168]
 Kuwait
AA-
Stable Steady 15 September 2023 [169]
 Laos
CCC-
Ratings Withdrawn Decrease 10 October 2022 [170]
 Latvia
A-
Positive Increase 28 July 2023 [171]
 Lebanon
RD
4 August 2023 [172]
 Lesotho
B
Stable Steady 12 July 2023 [173]
 Lithuania
A
Stable Steady 17 November 2023 [174]
 Luxembourg
AAA
Stable Steady 8 December 2023 [175]
 Macau
AA
Stable Steady 24 March 2023 [176]
 Malaysia
BBB+
Stable Steady 5 December 2023 [177]
 Maldives
B-
Negative Decrease 9 October 2023 [178]
 Malta
A+
Stable Steady 15 September 2023 [179]
 Mexico
BBB-
Stable Steady 7 December 2023 [180]
 Mongolia
B
Stable Steady 15 May 2023 [181]
 Morocco
BB+
Stable Steady 20 October 2023 [182]
 Mozambique
CCC+
11 August 2023 [183]
 Namibia
BB-
Stable Steady 2 June 2023 [184]
 Netherlands
AAA
Stable Steady 18 August 2023 [185]
 New Zealand
AA+
Stable Steady 29 August 2023 [186]
 Nicaragua
B-
Positive Increase 5 June 2023 [187]
 Nigeria
B-
Stable Steady 3 November 2023 [188]
 North Macedonia
BB+
Stable Steady 6 October 2023 [189]
 Norway
AAA
Stable Steady 15 December 2023 [190]
 Oman
BB+
Stable Steady 25 September 2023 [191]
 Pakistan
CCC
13 December 2023 [192]
 Panama
BB+
Negative Decrease 29 September 2023 [193]
 Paraguay
BB+
Stable Steady 1 November 2023 [194]
 Peru
BBB
Negative Decrease 25 October 2023 [195]
 Philippines
BBB
Stable Steady 10 November 2023 [196]
 Poland
A-
Stable Steady 10 November 2023 [197]
 Portugal
A-
Stable Steady 29 September 2023 [198]
 Qatar
AA
Stable Steady 20 March 2024 [199]
 Ras Al Khaimah, UAE
A
Positive Increase 23 May 2023 [200]
 Congo
CCC+
1 September 2023 [201]
 Romania
BBB-
Stable Steady 8 September 2023 [202]
 Russia
RD
Ratings withdrawn Decrease 25 March 2022 [203]
 Rwanda
B+
Stable Steady 6 October 2023 [204]
 San Marino
BB
Positive Increase 15 December 2023 [205]
 Saudi Arabia
A+
Stable Steady 5 April 2023 [206]
 Serbia
BB+
Stable Steady 11 August 2023 [207]
 Seychelles
BB-
Stable Steady 15 September 2023 [208]
 Singapore
AAA
Stable Steady 20 July 2023 [209]
 Slovakia
A-
Stable Steady 8 December 2023 [210]
 Slovenia
A
Stable Steady 20 October 2023 [211]
 South Africa
BB-
Stable Steady 17 July 2023 [212]
 South Korea
AA-
Stable Steady 17 October 2023 [213]
 Spain
A-
Stable Steady 17 November 2023 [214]
 Sri Lanka
RD
28 September 2023 [215]
 Suriname
RD
Ratings withdrawn Decrease 25 January 2022 [216]
 Sweden
AAA
Stable Steady 27 October 2023 [217]
 Switzerland
AAA
Stable Steady 3 November 2023 [218]
 Taiwan
AA
Stable Steady 18 August 2023 [219]
 Tanzania
B+
Stable Steady 15 December 2023 [220]
 Thailand
BBB+
Stable Steady 13 November 2023 [221]
 Tunisia
CCC-
8 December 2023 [222]
 Turkey
B+
Positive Increase 8 March 2024 [223]
 Turkmenistan
B+
Positive Increase 4 August 2023 [224]
 Uganda
B+
Negative Decrease 8 September 2023 [225]
 Ukraine
CC
8 December 2023 [226]
 United Arab Emirates
AA-
Stable Steady 13 July 2023 [227]
 United Kingdom
AA-
Negative Decrease 1 December 2023 [228]
 United States
AA+
Stable Steady 1 August 2023 [229]
 Uruguay
BBB
Stable Steady 7 June 2023 [230]
 Uzbekistan
BB-
Stable Steady 25 August 2023 [231]
 Vietnam
BB+
Stable Steady 8 December 2023 [232]
 Zambia
RD
4 December 2023 [233]

Moody's[edit]

Map of Moody's sovereign long-term foreign credit ratings.
Legend:
  Aaa   Aa1   Aa2   Aa3   A1
  A2   A3   Baa1   Baa2   Baa3
  Ba1   Ba2   Ba3   B1   B2
  B3  Caa1   Caa2   Caa3   Ca   C

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.[234]

Country/Territory Rating Outlook Date Ref.
 Angola
B3
Positive Increase 24 October 2023 [235]
 Albania
B1
Stable Steady 7 April 2023 [236]
 Argentina
Ca
Stable Steady 27 September 2022 [237]
 Armenia
Ba3
Stable Steady 22 June 2023 [238]
 Australia
Aaa
Stable Steady 28 June 2022 [239]
 Austria
Aa1
Stable Steady 24 February 2023 [240]
 Azerbaijan
Ba1
Stable Steady 5 August 2022 [241]
 Bahamas
B1
Stable Steady 6 October 2022 [242]
 Bahrain
B2
Stable Steady 22 April 2022 [243]
 Bangladesh
B1
Stable Steady 30 May 2023 [244]
 Barbados
B3
Stable Steady 3 August 2023 [245]
 Belarus
C
Stable Steady 2 June 2023 [246]
 Belgium
Aa3
Stable Steady 28 April 2023 [247]
 Belize
Caa2
Stable Steady 16 November 2022 [248]
 Benin
B1
Stable Steady 18 September 2023 [249]
 Bermuda
A2
Stable Steady 21 June 2022 [250]
 Bolivia
Caa1
Negative Decrease 30 June 2023 [251]
 Bosnia and Herzegovina
B3
Stable Steady 22 July 2022 [252]
 Botswana
A3
Stable Steady 27 October 2023 [253]
 Brazil
Ba2
Stable Steady 12 April 2022 [254]
 Bulgaria
Baa1
Stable Steady 3 February 2023 [255]
 Cambodia
B2
Negative Decrease 15 November 2022 [256]
 Cameroon
Caa1
Stable Steady 27 July 2023 [257]
 Canada
Aaa
Stable Steady 3 November 2022 [258]
 Cayman Islands
Aa3
Stable Steady 8 June 2023 [259]
 Chile
A2
Stable Steady 15 September 2022 [260]
 China
A1
Negative Decrease 5 December 2023 [261]
 Colombia
Baa2
Stable Steady 8 June 2023 [262]
 Congo
Caa2
Stable Steady 3 November 2023 [263]
 Costa Rica
B1
Positive Increase 3 November 2023 [264]
 Ivory Coast
Ba3
Positive Increase 27 June 2022 [265]
 Croatia
Baa2
Positive Increase 10 November 2023 [266]
 Cuba
Ca
Ratings withdrawn Decrease 18 November 2021 [267]
 Cyprus
Baa2
Stable Steady 29 September 2023 [268]
 Czech Republic
Aa3
Stable Steady 24 November 2023 [269]
 Denmark
Aaa
Stable Steady 11 February 2022 [270]
 Dominican Republic
Ba3
Positive Increase 10 August 2023 [271]
 DR Congo
B3
Stable Steady 11 November 2022 [272]
 Ecuador
Caa3
Stable Steady 27 February 2023 [273]
 Egypt
Caa1
Negative Steady 18 January 2024 [274]
 El Salvador
Caa3
Stable Steady 3 February 2023 [275]
 Estonia
A1
Stable Steady 29 April 2022 [276]
 Eswatini
B3
Positive Increase 1 December 2023 [277]
 Ethiopia
Caa3
Stable Steady 15 September 2023 [278]
 Fiji
B1
Stable Steady 7 October 2022 [279]
 Finland
Aa1
Stable Steady 29 July 2022 [280]
 France
Aa2
Stable Steady 2 December 2022 [281]
 Gabon
Caa1
Negative Decrease 12 September 2023 [282]
 Georgia
Ba2
Negative Decrease 28 April 2022 [283]
 Germany
Aaa
Stable Steady 10 February 2023 [284]
 Ghana
Caa3
Stable Steady 9 June 2023 [285]
 Greece
Ba1
Stable Steady 15 September 2023 [286]
 Guatemala
Ba1
Stable Steady 15 June 2022 [287]
 Honduras
B1
Stable Steady 3 October 2023 [288]
 Hong Kong
Aa3
Negative Decrease 6 December 2023 [289]
 Hungary
Baa2
Stable Steady 1 September 2023 [290]
 Iceland
A2
Positive Increase 14 July 2023 [291]
 India
Baa3
Stable Steady 18 August 2023 [292]
 Indonesia
Baa2
Stable Steady 10 February 2022 [293]
 Iraq
Caa1
Stable Steady 24 November 2023 [294]
 Ireland
Aa3
Stable Steady 21 April 2023 [295]
 Isle of Man
Aa3
Stable Steady 27 October 2023 [296]
 Israel
A2
Negative Decrease 9 February 2024 [297]
 Italy
Baa3
Stable Steady 17 November 2023 [298]
 Jamaica
B1
Positive Increase 18 October 2023 [299]
 Japan
A1
Stable Steady 8 November 2023 [300]
 Jordan
B1
Positive Increase 17 November 2022 [301]
 Kazakhstan
Baa2
Positive Increase 27 October 2023 [302]
 Kenya
B3
Negative Decrease 28 July 2023 [303]
 Kuwait
A1
Stable Steady 26 May 2022 [304]
 Kyrgyzstan
B3
Negative Decrease 17 October 2022 [305]
 Latvia
A3
Stable Steady 29 April 2022 [306]
 Lebanon
C
Stable Steady 13 December 2023 [307]
 Lithuania
A2
Stable Steady 29 April 2022 [308]
 Luxembourg
Aaa
Stable Steady 17 March 2023 [309]
 Macau
Aa3
Negative Decrease 6 December 2022 [310]
 Malaysia
A3
Stable Steady 14 April 2023 [311]
 Maldives
Caa1
Stable Steady 24 October 2023 [312]
 Mali
Caa2
Stable Steady 9 September 2022 [313]
 Malta
A2
Stable Steady 18 November 2022 [314]
 Mauritius
Baa3
Stable Steady 28 July 2022 [315]
 Mexico
Baa2
Stable Steady 8 July 2022 [316]
 Moldova
B3
Stable Steady 18 August 2023 [317]
 Mongolia
B3
Stable Steady 14 February 2023 [318]
 Montenegro
B1
Stable Steady 9 September 2022 [319]
 Morocco
Ba1
Stable Steady 1 July 2022 [320]
 Mozambique
Caa2
Stable Steady 22 September 2023 [321]
 Namibia
B1
Stable Steady 5 April 2022 [322]
 Netherlands
Aaa
Stable Steady 27 January 2023 [323]
 New Zealand
Aaa
Stable Steady 21 April 2022 [324]
 Nicaragua
B3
Stable Steady 30 March 2022 [325]
 Nigeria
Caa1
Positive Increase 8 December 2023 [326]
 Norway
Aaa
Stable Steady 6 May 2022 [327]
 Oman
Ba1
Stable Steady 7 December 2023 [328]
 Pakistan
Caa3
Stable Steady 28 February 2023 [329]
 Panama
Baa3
Stable Steady 31 October 2023 [330]
 Papua New Guinea
B2
Stable Steady 10 November 2022 [331]
 Paraguay
Ba1
Positive Increase 22 July 2022 [332]
 Peru
Baa1
Negative Decrease 31 January 2023 [333]
 Philippines
Baa2
Stable Steady 15 September 2022 [334]
 Poland
A2
Stable Steady 29 April 2022 [335]
 Portugal
A3
Stable Steady 17 November 2023 [336]
 Qatar
Aa3
Positive Increase 2 November 2022 [337]
 Romania
Baa3
Stable Steady 3 November 2023 [338]
 Russia
Ca
Ratings withdrawn Decrease 6 March 2022 [339]
 Rwanda
B2
Stable Steady 8 September 2023 [340]
 Saint Vincent and the Grenadines
B3
Stable Steady 1 March 2022 [341]
 Saudi Arabia
A1
Positive Increase 17 March 2023 [342]
 Senegal
Ba3
Stable Steady 18 March 2022 [343]
 Serbia
Ba2
Stable Steady 8 September 2023 [344]
 Singapore
Aaa
Stable Steady 17 May 2022 [345]
 Slovakia
A2
Negative Decrease 24 November 2023 [346]
 Slovenia
A3
Stable Steady 21 October 2022 [347]
 South Africa
Ba2
Stable Steady 1 April 2022 [348]
 South Korea
Aa2
Stable Steady 21 April 2022 [349]
 Spain
Baa1
Stable Steady 15 July 2022 [350]
 Sri Lanka
Ca
Stable Steady 18 April 2022 [351]
 Suriname
Caa3
Stable Steady 17 February 2023 [352]
 Sweden
Aaa
Stable Steady 25 March 2022 [353]
 Switzerland
Aaa
Stable Steady 17 February 2023 [354]
 Taiwan
Aa3
Stable Steady 22 September 2022 [355]
 Tajikistan
B3
Stable Steady 12 October 2023 [356]
 Thailand
Baa1
Stable Steady 7 April 2022 [357]
 Trinidad and Tobago
Ba2
Positive Increase 10 July 2023 [358]
 Tunisia
Caa2
Stable Steady 22 March 2024 [359]
 Turkey
B3
Stable Steady 12 August 2022 [360]
 Uganda
B2
Negative Decrease 18 November 2022 [361]
 Ukraine
Ca
Stable Steady 10 February 2023 [362]
 United Arab Emirates
Aa2
Stable Steady 21 March 2023 [363]
 United Kingdom
Aa3
Stable Steady 20 October 2023 [364]
 United States
Aaa
Negative Decrease 10 November 2023 [365]
 Uruguay
Baa1
Stable Steady 15 March 2024 [366]
 Uzbekistan
Ba3
Stable Steady 20 January 2023 [367]
 Venezuela
C
Ratings withdrawn Decrease 9 March 2018 [368]
 Vietnam
Ba2
Stable Steady 6 September 2022 [369]
 Zambia
Caa3
Stable Steady 21 October 2022 [370]

Others[edit]

DBRS Morningstar[edit]

For DBRS Morningstar,[371] 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.

Country Rating Outlook Date
 Argentina
CCC
Stable Steady 3 March 2023
 Australia
AAA
Stable Steady 20 January 2023
 Austria
AAA
Stable Steady 14 July 2023
 Belgium
AA
Stable Steady 4 August 2023
 Brazil
BB
Stable Steady 28 July 2023
 Canada
AAA
Stable Steady 8 September 2023
 China
A
Stable Steady 9 November 2023
 Colombia
BBB(low)
Stable Steady 26 June 2023
 Cyprus
BBB(high)
Stable Steady 29 September 2023
 Denmark
AAA
Stable Steady 17 November 2023
 Estonia
AA(low)
Stable Steady 21 July 2023
 Finland
AA(high)
Stable Steady 22 September 2023
 France
AA(high)
Stable Steady 22 September 2023
 Germany
AAA
Stable Steady 1 December 2023
 Greece
BBB(low)
Stable Steady 8 September 2023
 India
BBB(low)
Stable Steady 16 May 2023
 Ireland
AA(low)
Stable Steady 3 November 2023
 Italy
BBB(high)
Stable Steady 27 October 2023
 Japan
A(high)
Stable Steady 19 November 2023
 Latvia
A
Stable Steady 15 September 2023
 Lithuania
A(high)
Stable Steady 17 November 2023
 Luxembourg
AAA
Stable Steady 10 November 2023
 Malta
A(high)
Stable Steady 13 October 2023
 Mexico
BBB
Stable Steady 8 May 2023
 Netherlands
AAA
Stable Steady 15 September 2023
 Norway
AAA
Stable Steady 29 September 2023
 Poland
A
Stable Steady 10 November 2023
 Portugal
A
Stable Steady 21 July 2023
 San Marino
BBB(low)
Stable Steady 1 December 2023
 Singapore
AAA
Stable Steady 24 August 2023
 Slovakia
A
Stable Steady 25 August 2023
 Slovenia
A(high)
Stable Steady 8 December 2023
 Spain
A
Stable Steady 1 December 2023
 Sweden
AAA
Stable Steady 4 August 2023
 Switzerland
AAA
Stable Steady 21 July 2023
 United Kingdom
AA
Stable Steady 17 November 2023
 United States
AAA
Stable Steady 10 October 2023
 Uruguay
BBB
Stable Steady 20 November 2023

Scope Ratings[edit]

For Scope[372] – 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/Territory Rating Outlook Date
 Austria
AA+
Stable Steady 26 April 2024
 Belgium
AA-
Negative Decrease 15 September 2023
 Bulgaria
BBB+
Positive Increase 21 July 2023
 China
A
Stable Steady 12 May 2023
 Croatia
BBB+
Stable Steady 26 May 2023
 Cyprus
BBB+
Stable Steady 17 November 2023
 Czech Republic
AA-
Stable Steady 26 April 2024
 Denmark
AAA
Stable Steady 29 September 2023
 Egypt
B-
Stable Steady 12 April 2024
 Estonia
A+
Stable Steady 19 April 2024
 Finland
AA+
Stable Steady 15 March 2024
 France
AA
Negative Decrease 26 May 2023
 Georgia
BB
Stable Steady 2 February 2024
 Germany
AAA
Stable Steady 20 October 2023
 Greece
BBB-
Stable Steady 4 August 2023
 Hungary
BBB
Stable Steady 26 January 2024
 Ireland
AA-
Positive Increase 31 March 2023
 Italy
BBB+
Stable Steady 14 July 2023
 Japan
A
Stable Steady 22 March 2024
 Latvia
A-
Stable Steady 28 April 2023
 Lithuania
A
Stable Steady 28 April 2023
 Luxembourg
AAA
Stable Steady 27 January 2023
 Malta
A+
Stable Steady 1 September 2023
 Morocco
BB+
Stable Steady 8 September 2023
 Netherlands
AAA
Stable Steady 3 November 2023
 Norway
AAA
Stable Steady 29 September 2023
 Poland
A
Stable Steady 2 June 2023
 Portugal
A-
Stable Steady 16 February 2024
 Romania
BBB-
Stable Steady 1 March 2024
 Serbia
BB+
Stable Steady 27 October 2023
 Slovakia
A
Stable Steady 9 February 2024
 Slovenia
A
Stable Steady 28 July 2023
 South Africa
BB
Stable Steady 6 October 2023
 Spain
A-
Positive Increase 22 March 2024
 Sweden
AAA
Stable Steady 15 September 2023
 Switzerland
AAA
Stable Steady 27 January 2023
 Turkey
B-
Positive Increase 26 April 2024
 Ukraine
CC
Negative Decrease 12 May 2023
 United Kingdom
AA
Stable Steady 3 November 2023
 United States
AA
Negative Decrease 29 June 2023

JCR[edit]

Japan Credit Rating Agency[373] (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/Territory Rating Outlook Date
 Australia
AAA
Stable Steady 26 April 2023
 Belgium
AAA
Stable Steady 2 June 2023
 Brazil
BBB-
Stable Steady 20 December 2023
 Canada
AAA
Stable Steady 20 December 2023
 Chile
AA-
Stable Steady 4 April 2023
 China
AA-
Stable Steady 2 November 2023
 Czech Republic
AA-
Stable Steady 30 June 2023
 Denmark
AAA
Stable Steady 15 December 2023
 Egypt
AA
2 November 2023
 Finland
AAA
Stable Steady 22 February 2023
 France
AAA
Stable Steady 6 October 2022
 Germany
AAA
Stable Steady 3 August 2023
 Hong Kong
AA+
Stable Steady 27 April 2023
 Hungary
A-
Stable Steady 18 February 2022
 India
BBB+
Stable Steady 27 December 2023
 Indonesia
BBB+
Stable Steady 27 July 2022
 Italy
A
Stable Steady 16 December 2022
 Japan
AAA
Stable Steady 27 December 2023
 Malaysia
A+
Stable Steady 12 September 2022
 Mexico
A-
Stable Steady 18 August 2023
 Netherlands
AAA
Stable Steady 9 June 2023
 Norway
AAA
Stable Steady 7 September 2023
 Peru
A-
Stable Steady 27 April 2023
 Philippines
A-
Stable Steady 10 March 2023
 Poland
A
Stable Steady 16 November 2023
 Portugal
A
Stable Steady 13 January 2023
 Romania
BBB
Stable Steady 27 November 2023
 Singapore
AAA
Stable Steady 22 December 2023
 Slovakia
A+
Negative Decrease 6 October 2022
 Slovenia
AA-
Stable Steady 21 September 2022
 South Korea
AA
Stable Steady 30 September 2022
 Spain
AA
Stable Steady 24 April 2023
 Thailand
A
Stable Steady 11 November 2022
 Turkey
BB
Negative Decrease 18 August 2022
 United Kingdom
AAA
Stable Steady 25 January 2023
 United States
AAA
Stable Steady 26 June 2023
 Uruguay
A-
Stable Steady 22 November 2023

China Chengxin[edit]

China Chengxin Credit Rating Group[374] is a credit rating agency based in China.

Country/Territory Rating Outlook Date
 Austria
AAg
Stable Steady 29 December 2023
 Bangladesh
BB-g
Stable Steady 29 December 2023
 Belgium
A+g
Stable Steady 29 December 2023
 Bulgaria
BBB+g
Stable Steady 29 December 2023
 Cambodia
Bg
Stable Steady 29 December 2023
 Canada
AA+g
Stable Steady 13 September 2023
 China
AA+g
Stable Steady 29 December 2023
 Egypt
BB-g
Stable Steady 15 November 2023
 Estonia
A+g
Stable Steady 29 December 2023
 France
AAg
Stable Steady 16 November 2023
 Greece
BB+g
Stable Steady 26 October 2023
 Ireland
A+g
Stable Steady 29 December 2023
 Israel
A+g
Stable Steady 26 October 2023
 Italy
BBBg
Stable Steady 29 December 2023
 Korea
AA+g
Stable Steady 13 September 2023
 Mexico
BBBg
Stable Steady 29 December 2023
 Mongolia
B+g
Stable Steady 29 December 2023
 Netherlands
AA+g
Stable Steady 29 December 2023
 Pakistan
CCCg
Stable Steady 13 September 2023
 Romania
BBBg
Stable Steady 29 December 2023
 Saudi Arabia
AAg
Stable Steady 13 September 2023
 Singapore
AAAg
Stable Steady 6 November 2023
 Slovenia
Ag
Stable Steady 29 December 2023
 South Africa
BBg
Stable Steady 29 December 2023
 Spain
BBBg
Stable Steady 13 September 2023
 Switzerland
AAAg
Stable Steady 29 December 2023
 Thailand
A-g
Stable Steady 29 December 2023
 United Arab Emirates
Ag
Stable Steady 29 December 2023
 United States
AA+g
Stable Steady 25 May 2023
 Vietnam
BBg
Stable Steady 13 September 2023

Unrated[edit]

UN member states that have not been assigned a credit rating by any of the eight rating agencies
Country Details
 Afghanistan
 Algeria
 Antigua and Barbuda
 Bhutan
 Brunei Darussalam
 Burundi
 Central African Republic
 Chad
 Comoros
 Djibouti
 Dominica
 Equatorial Guinea
 Eritrea
 Gambia Fitch suspended Gambia's credit rating after its only traded international bond expired[375]
 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.[376]
 Kiribati
 Liberia
 Libya Fitch has withdrawn all ratings for Libya because it does not have enough information to maintain coverage of the issuer.[377]
 Malawi
 Mali Mali was given a credit rating in 2004 as part of a UN development initiative,[378] but the rating was later withdrawn.[379]
 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
 Syria
 Timor Leste
 Tonga
 Tuvalu
 Vanuatu
 Yemen
 Zimbabwe

References[edit]

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  100. ^ "Turks & Caicos Islands retains it BBB+ credit rating from Standard & Poors". The Sun Turks and Caicos Islands. 2022-06-27.
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  102. ^ Sifon-arevalo, Roberto (31 Jan 2024). "Sovereign Ratings List". www.spglobal.com. S&P Global Ratings. Retrieved 4 March 2024.
  103. ^ "Rating: Gabon Credit Rating". countryeconomy.com.
  104. ^ Standard & Poor's (2023-04-26). "Research Update: Uruguay Long-Term Ratings Raised To 'BBB+' On Stronger Fiscal Policy; Outlook Stable". S&P Global.
  105. ^ "Rating: Uzbekistan Credit Rating". countryeconomy.com.
  106. ^ "Fitch Ratings — Definitions of Ratings and Other Forms of Opinion" (PDF). Retrieved 2013-02-25.
  107. ^ "Rating Definitions". fitchratings.com. Fitch Ratings. Retrieved 26 December 2020.
  108. ^ Fitch Ratings. "Fitch Affirms Abu Dhabi at 'AA'; Outlook Stable".
  109. ^ Fitch Ratings. "Fitch Affirms Andorra at 'A-'; Outlook Stable".
  110. ^ Fitch Ratings. "Fitch Affirms Angola at 'B-'; Outlook Stable".
  111. ^ Fitch Ratings. "Fitch Upgrades Argentina's FC IDR to 'CC'; Affirms LC IDR at 'CCC-'".
  112. ^ Fitch Ratings. "Fitch Upgrades Armenia to 'BB-'; Outlook Stable".
  113. ^ Fitch Ratings. "Fitch Upgrades Aruba to 'BB+'; Outlook Stable".
  114. ^ Fitch Ratings. "Fitch Affirms Australia at 'AAA'; Outlook Stable".
  115. ^ Fitch Ratings. "Fitch Revises Austria's Outlook to Stable; Affirms IDR at 'AA+'".
  116. ^ Fitch Ratings. "Fitch Affirms Azerbaijan at 'BB+'; Outlook Positive".
  117. ^ Fitch Ratings. "Fitch Affirms Bahrain at 'B+'; Outlook Stable".
  118. ^ Fitch Ratings. "Fitch Revises Outlook on Bangladesh to Negative; Affirms at 'BB-'".
  119. ^ Fitch Ratings. "Fitch Revises Barbados' Outlook to Positive; Affirms at 'B'".
  120. ^ Fitch Ratings. "Fitch Withdraws Belarus's Ratings".
  121. ^ Fitch Ratings. "Fitch Affirms Belgium at 'AA-'; Outlook Negative".
  122. ^ Fitch Ratings. "Fitch Affirms Benin at 'B+'; Outlook Stable".
  123. ^ Fitch Ratings. "Fitch Downgrades Bolivia to 'CCC'".
  124. ^ Fitch Ratings. "Fitch Upgrades Brazil to 'BB'; Outlook Stable".
  125. ^ Fitch Ratings. "Fitch Affirms Bulgaria at 'BBB'; Outlook Positive".
  126. ^ Fitch Ratings. "Fitch Affirms Cabo Verde at 'B-'; Outlook Positive".
  127. ^ Fitch Ratings. "Fitch Revises Cameroon's Outlook to Negative; Affirms at 'B'".
  128. ^ Fitch Ratings. "Fitch Affirms Canada at 'AA+'; Outlook Stable".
  129. ^ Fitch Ratings. "Fitch Affirms Chile at 'A-'; Outlook Stable".
  130. ^ Fitch Ratings. "Fitch Affirms China at 'A+'; Outlook Stable".
  131. ^ Fitch Ratings. "Fitch Affirms Colombia's 'BB+' Rating; Outlook Stable".
  132. ^ Fitch Ratings. "Fitch Upgrades Costa Rica to 'BB-'; Outlook Stable".
  133. ^ Fitch Ratings. "Fitch Affirms Cote d'Ivoire at 'BB-'; Outlook Stable".
  134. ^ Fitch Ratings. "Fitch Revises Croatia's Outlook to Positive; Affirms at 'BBB+'".
  135. ^ Fitch Ratings. "Fitch Revises Cyprus's Outlook to Positive; Affirms at 'BBB'".
  136. ^ Fitch Ratings. "Fitch Affirms Czech Republic at 'AA-'; Outlook Negative".
  137. ^ Fitch Ratings. "Fitch Affirms Denmark at 'AAA'; Outlook Stable".
  138. ^ Fitch Ratings. "Fitch Revises Dominican Republic's Outlook to Positive; Affirms at 'BB-'".
  139. ^ Fitch Ratings. "Fitch Downgrades Ecuador's Long-Term IDR to 'CCC+'".
  140. ^ Fitch Ratings. "Fitch Downgrades Egypt to 'B-'; Outlook Stable".
  141. ^ Fitch Ratings. "Fitch Takes Rating Actions on El Salvador Following Local Law Securities Debt Exchange".
  142. ^ Fitch Ratings. "Fitch Downgrades Estonia to 'A+'; Outlook Stable".
  143. ^ Fitch Ratings. "Fitch Downgrades Ethiopia's LTFC IDR to 'RD'".
  144. ^ Fitch Ratings. "Fitch Affirms European Union and Euratom at 'AAA'; Outlook Stable".
  145. ^ Fitch Ratings. "Fitch Affirms Finland at 'AA+'; Outlook Stable".
  146. ^ Fitch Ratings. "Fitch Affirms France at 'AA-'; Outlook Stable".
  147. ^ Fitch Ratings. "Fitch Affirms Gabon at 'B-'; Removes Rating Watch Negative; Outlook Stable".
  148. ^ Fitch Ratings. "Fitch Affirms Georgia at 'BB'; Outlook positive".
  149. ^ Fitch Ratings. "Fitch Affirms Germany at 'AAA'; Outlook Stable".
  150. ^ Fitch Ratings. "Fitch Upgrades Ghana's Long-Term Local-Currency IDR to 'CCC'".
  151. ^ Fitch Ratings. "Fitch Upgrades Greece to 'BBB-'; Outlook Stable".
  152. ^ Fitch Ratings. "Fitch Upgrades Guatemala to 'BB'; Outlook Stable".
  153. ^ Fitch Ratings. "Fitch Affirms Honduras's AMDC, Tegucigalpa at 'B'; Outlook Stable".
  154. ^ Fitch Ratings. "Fitch Affirms Hong Kong at 'AA-'; Outlook Stable".
  155. ^ Fitch Ratings. "Fitch Affirms Hungary at 'BBB'; Outlook Negative".
  156. ^ Fitch Ratings. "Fitch Affirms Iceland at 'A'; Outlook Stable".
  157. ^ Fitch Ratings. "Fitch Affirms India at 'BBB-'; Outlook Stable".
  158. ^ Fitch Ratings. "Fitch Affirms Indonesia at 'BBB'; Outlook Stable". www.fitchratings.com. Retrieved 2024-03-21.
  159. ^ Fitch Ratings. "Fitch Affirms Iraq at 'B-'; Outlook Stable".
  160. ^ Fitch Ratings. "Fitch Affirms Ireland at 'AA-'; Outlook Positive".
  161. ^ Fitch Ratings. "Fitch Places Israel's 'A+' IDRs on Rating Watch Negative".
  162. ^ Fitch Ratings. "Fitch Affirms Italy at 'BBB'; Outlook Stable".
  163. ^ Fitch Ratings. "Fitch Revises Jamaica's Outlook to Positive; Affirms at 'B+'".
  164. ^ Fitch Ratings. "Fitch Affirms Japan at 'A'; Outlook Stable".
  165. ^ Fitch Ratings. "Fitch Affirms Jordan at 'BB-', Outlook Stable".
  166. ^ Fitch Ratings. "Fitch Affirms Kazakhstan at 'BBB'; Outlook Stable".
  167. ^ Fitch Ratings. "Fitch Revises Kenya's Outlook to Negative; Affirms at 'B'".
  168. ^ Fitch Ratings. "Fitch Assigns Kosovo 'BB-' IDR; Outlook Stable".
  169. ^ Fitch Ratings. "Fitch Affirms Kuwait at 'AA-'; Outlook Stable".
  170. ^ Fitch Ratings. "Fitch Affirms Laos at 'CCC-', Withdraws Ratings".
  171. ^ Fitch Ratings. "Fitch Revises Latvia's Outlook to Positive; Affirms at 'A-'".
  172. ^ Fitch Ratings. "Fitch Affirms Lebanon's LTFC IDR at 'RD', Downgrades LC IDRs to 'RD'".
  173. ^ Fitch Ratings. "Fitch Affirms Lesotho at 'B'; Outlook Stable".
  174. ^ Fitch Ratings. "Fitch Affirms Lithuania at 'A'; Outlook Stable".
  175. ^ Fitch Ratings. "Fitch Affirms Luxembourg at 'AAA'; Outlook Stable".
  176. ^ Fitch Ratings. "Fitch Affirms Macao at 'AA'; Outlook Stable".
  177. ^ Fitch Ratings. "Fitch Affirms Malaysia at 'BBB+'; Outlook Stable".
  178. ^ Fitch Ratings. "Fitch Affirms Maldives at 'B-'; Outlook Negative".
  179. ^ Fitch Ratings. "Fitch Affirms Malta at 'A+'; Outlook Stable".
  180. ^ Fitch Ratings. "Fitch Affirms Mexico at 'BBB-'; Outlook Stable".
  181. ^ Fitch Ratings. "Fitch Affirms Mongolia at 'B'; Outlook Stable".
  182. ^ Fitch Ratings. "Fitch Affirms Morocco at 'BB+'; Outlook Stable".
  183. ^ Fitch Ratings. "Fitch Affirms Mozambique at 'CCC+'".
  184. ^ Fitch Ratings. "Fitch Affirms Namibia at 'BB-'; Outlook Stable".
  185. ^ Fitch Ratings. "Fitch Affirms the Netherlands at 'AAA'; Outlook Stable".
  186. ^ Fitch Ratings. "Fitch Affirms New Zealand at 'AA+'; Outlook Stable".
  187. ^ Fitch Ratings. "Fitch Affirms Nicaragua at 'B-'; Revises Outlook to Positive".
  188. ^ Fitch Ratings. "Fitch Affirms Nigeria at 'B-'; Outlook Stable".
  189. ^ Fitch Ratings. "Fitch Affirms North Macedonia at 'BB+'; Outlook Stable".
  190. ^ Fitch Ratings. "Fitch Affirms Norway at 'AAA'; Outlook Stable".
  191. ^ Fitch Ratings. "Fitch Upgrades Oman to 'BB+'; Outlook Stable".
  192. ^ Fitch Ratings. "Fitch Affirms Pakistan at 'CCC'".
  193. ^ Fitch Ratings. "Fitch Revises Panama's Outlook to Negative; Affirms IDR at 'BBB-'".
  194. ^ Fitch Ratings. "Fitch Affirms Paraguay at 'BB+'; Outlook Stable".
  195. ^ Fitch Ratings. "Fitch Affirms Peru at 'BBB'; Outlook Negative".
  196. ^ Fitch Ratings. "Fitch Affirms Philippines at 'BBB'; Outlook Stable".
  197. ^ Fitch Ratings. "Fitch Affirms Poland at 'A-'; Outlook Stable".
  198. ^ Fitch Ratings. "Fitch Upgrades Portugal to 'A-'; Outlook Stable".
  199. ^ Fitch Ratings. "Fitch Upgrades Qatar to 'AA'; Outlook Stable".
  200. ^ Fitch Ratings. "Fitch Affirms Ras Al Khaimah at 'A'; Outlook Positive".
  201. ^ Fitch Ratings. "Fitch Affirms Congo at 'CCC+'".
  202. ^ Fitch Ratings. "Fitch Affirms Romania at 'BBB-'; Outlook Stable".
  203. ^ Fitch Ratings. "Fitch Withdraws Russia's Ratings".
  204. ^ Fitch Ratings. "Fitch Revises Rwanda's Outlook to Stable; Affirms at 'B+'".
  205. ^ Fitch Ratings. "Fitch Revises San Marino's Outlook to Positive; Affirms at 'BB'".
  206. ^ Fitch Ratings. "Fitch Upgrades Saudi Arabia to 'A+'; Outlook Stable".
  207. ^ Fitch Ratings. "Fitch Upgrades Serbia to 'BB+'; Outlook Stable".
  208. ^ Fitch Ratings. "Fitch Affirms Seychelles at 'BB-'; Outlook Stable".
  209. ^ Fitch Ratings. "Fitch Affirms Singapore at 'AAA'; Outlook Stable".
  210. ^ "Fitch Downgrades Slovakia to 'A-'; Outlook Stable".
  211. ^ Fitch Ratings. "Fitch Affirms Slovenia at 'A'; Outlook Stable".
  212. ^ Fitch Ratings. "Fitch Affirms South Africa at 'BB-'; Outlook Stable".
  213. ^ Fitch Ratings. "Fitch Affirms Korea at 'AA-'; Outlook Stable".
  214. ^ Fitch Ratings. "Fitch Affirms Spain at 'A-'; Outlook Stable".
  215. ^ Fitch Ratings. "Fitch Upgrades Sri Lanka's Long-Term Local-Currency IDR to 'CCC-'".
  216. ^ Fitch Ratings. "Fitch Affirms Suriname at 'RD', Withdraws Ratings".
  217. ^ Fitch Ratings. "Fitch Affirms Sweden at 'AAA'; Outlook Stable".
  218. ^ Fitch Ratings. "Fitch Affirms Switzerland at 'AAA'; Outlook Stable".
  219. ^ Fitch Ratings. "Fitch Affirms Taiwan at 'AA'; Outlook Stable".
  220. ^ Fitch Ratings. "Fitch Affirms Tanzania at 'B+'; Outlook Stable".
  221. ^ Fitch Ratings. "Fitch Affirms Thailand at 'BBB+'; Outlook Stable".
  222. ^ Fitch Ratings. "Fitch Affirms Tunisia at 'CCC-'".
  223. ^ Fitch Ratings. "Fitch Upgrades Turkiye to 'B+'; Outlook Positive".
  224. ^ Fitch Ratings. "Fitch Affirms Turkmenistan at 'B+'; Outlook Positive".
  225. ^ Fitch Ratings. "Fitch Affirms Uganda at 'B+'; Outlook Negative".
  226. ^ Fitch Ratings. "Fitch Affirms Ukraine at 'CC'".
  227. ^ Fitch Ratings. "Fitch Affirms the United Arab Emirates at 'AA-'; Outlook Stable".
  228. ^ Fitch Ratings. "Fitch Affirms United Kingdom at 'AA-'; Outlook Negative".
  229. ^ Fitch Ratings. "Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA'; Outlook Stable".
  230. ^ Fitch Ratings. "Fitch Upgrades Uruguay to 'BBB'; Outlook Stable".
  231. ^ Fitch Ratings. "Fitch Affirms Uzbekistan at 'BB-'; Outlook Stable".
  232. ^ Fitch Ratings. "Fitch Upgrades Vietnam to 'BB+'; Outlook Stable".
  233. ^ Fitch Ratings. "Fitch Affirms Zambia's LTFC IDR at 'RD'; Upgrades LTLC IDR to 'CCC+'".
  234. ^ "investment grade : defined at Finance Glossary". Finance-glossary.com. Archived from the original on 2012-11-05. Retrieved 2013-02-25.
  235. ^ Moody's Investors Service. "Moody's affirms Angola's ratings at B3, maintains positive outlook".
  236. ^ Moody's Investors Service. "Moody's affirms the B1 ratings of Albania; maintains stable outlook".
  237. ^ Moody's Investors Service. "Moody's affirms Argentina's Ca ratings; outlook stable".
  238. ^ Moody's Investors Service. "Moody's changes Armenia's outlook to stable from negative; affirms Ba3 rating".
  239. ^ Moody's Investors Service. "Moody's affirms Australia's Aaa rating, maintains stable outlook".
  240. ^ Moody's Investors Service. "Moody's affirms Austria's Aa1 ratings; outlook remains stable".
  241. ^ Moody's Investors Service. "Moody's upgrades Azerbaijan's ratings to Ba1, outlook changed to stable".
  242. ^ Moody's Investors Service. "Moody's downgrades The Bahamas' ratings to B1, changes outlook to stable".
  243. ^ Moody's Investors Service. "Moody's changes Bahrain's outlook to stable, affirms B2 ratings".
  244. ^ Moody's Investors Service. "Moody's downgrades Bangladesh's ratings to B1, outlook stable".
  245. ^ Moody's Investors Service. "Moody's upgrades Barbados' ratings to B3 from Caa1; maintains a stable outlook".
  246. ^ Moody's Investors Service. "Moody's downgrades Belarus' ratings to C with a stable outlook".
  247. ^ Moody's Investors Service. "Moody's affirms Belgium's Aa3 ratings; maintains stable outlook".
  248. ^ Moody's Investors Service. "Moody's upgrades Belize's ratings to Caa2 from Caa3, maintains stable outlook".
  249. ^ Moody's Investors Service. "Moody's affirms the B1 ratings of Benin; maintains stable outlook".
  250. ^ Moody's Investors Service. "Moody's affirms Bermuda's A2 ratings; maintains stable outlook".
  251. ^ Moody's Investors Service. "Moody's confirms Bolivia's ratings at Caa1, changes outlook to negative".
  252. ^ Moody's Investors Service. "Moody's affirms Bosnia and Herzegovina's B3 ratings; outlook stable".
  253. ^ Moody's Investors Service. "Moody's affirms Botswana's A3 ratings and maintains stable outlook".
  254. ^ Moody's Investors Service. "Moody's affirms Brazil's Ba2 ratings; maintains stable outlook".
  255. ^ Moody's Investors Service. "Moody's affirms Bulgaria's Baa1 ratings, maintains stable outlook".
  256. ^ Moody's Investors Service. "Moody's changes Cambodia's outlook to negative, B2 ratings affirmed".
  257. ^ Moody's Investors Service. "Moody's downgrades Cameroon's rating to Caa1 from B2; maintains stable outlook".
  258. ^ Moody's Investors Service. "Moody's affirms Canada's Aaa rating; maintains stable outlook".
  259. ^ Moody's Investors Service. "Moody's affirms Cayman Islands' Aa3 ratings, maintains stable outlook".
  260. ^ Moody's Investors Service. "Moody's downgrades Chile's ratings to A2, changes outlook to stable from negative".
  261. ^ Moody's Investors Service. "Moody's affirms China's A1 rating, changes outlook to negative from stable".
  262. ^ Moody's Investors Service. "Moody's affirms Colombia's Baa2 ratings; maintains stable outlook".
  263. ^ Moody's Investors Service. "Moody's affirms the Republic of the Congo's Caa2 ratings and maintains stable outlook".
  264. ^ Moody's Investors Service. "Moody's upgrades Costa Rica's ratings to B1; changes outlook to positive from stable".
  265. ^ Moody's Investors Service. "Moody's affirms Côte d'Ivoire's Ba3 rating; changes outlook to positive from stable".
  266. ^ Moody's Investors Service. "Moody's affirms Croatia's Baa2 ratings, changes outlook to positive from stable".
  267. ^ Moody's Investors Service. "Moody's withdraws Cuba's ratings due to lack of sufficient information".
  268. ^ Moody's Investors Service. "Moody's upgrades Cyprus' ratings to Baa2 and changes outlook to stable".
  269. ^ Moody's Investors Service. "Moody's changes Czech Republic's outlook to stable from negative, affirms Aa3 ratings".
  270. ^ Moody's Investors Service. "Moody's affirms the Aaa ratings of Denmark; maintains stable outlook".
  271. ^ Moody's Investors Service. "Moody's changes outlook on Dominican Republic's ratings to positive, affirms Ba3 ratings".
  272. ^ Moody's Investors Service. "Moody's upgrades the Democratic Republic of the Congo's ratings to B3 from Caa1, outlook stable".
  273. ^ Moody's Investors Service. "Moody's affirms Ecuador's Caa3 rating; maintains stable outlook".
  274. ^ Moody's Investors Service. "Moody's changes outlook on Egypt to negative, affirms Caa1 ratings".
  275. ^ Moody's Investors Service. "Moody's affirms El Salvador's Caa3 ratings; outlook changed to stable".
  276. ^ Moody's Investors Service. "Moody's affirms Estonia's A1 ratings, maintains stable outlook".
  277. ^ Moody's Investors Service. "Moody's changes eSwatini's outlook to positive from stable, affirms B3 rating".
  278. ^ Moody's Investors Service. "Moody's downgrades Ethiopia's foreign currency rating to Caa3, affirms its local currency rating at Caa2 and changes outlook to stable".
  279. ^ Moody's Investors Service. "Moody's changes Fiji's outlook to stable from negative; affirms B1 rating".
  280. ^ Moody's Investors Service. "Moody's affirms Finland's Aa1 ratings; outlook remains stable".
  281. ^ Moody's Investors Service. "Moody's affirms France's Aa2 ratings; outlook remains stable".
  282. ^ Moody's Investors Service. "Moody's changes the outlook on Gabon to negative; affirms Caa1 rating".
  283. ^ Moody's Investors Service. "Moody's changes the outlook on Georgia's rating to negative; affirms Ba2 rating".
  284. ^ Moody's Investors Service. "Moody's affirms Germany's Aaa ratings; outlook remains stable".
  285. ^ Moody's Investors Service. "Moody's upgrades Ghana's local currency ratings to Caa3 from Ca, maintains stable outlook".
  286. ^ Moody's Investors Service. "Moody's upgrades Greece's ratings to Ba1, outlook stable".
  287. ^ Moody's Investors Service. "Moody's affirms Guatemala's Ba1 ratings; changes outlook to stable from negative".
  288. ^ Moody's Investors Service. "Moody's affirms Honduras' B1 ratings; maintains stable outlook".
  289. ^ Moody's Investors Service. "Moody's affirms Hong Kong SAR's Aa3 rating, changes outlook to negative from stable".
  290. ^ Moody's Investors Service. "Moody's affirms the Baa2 ratings of Hungary; maintains stable outlook".
  291. ^ Moody's Investors Service. "Moody's changes outlook on Iceland's ratings to positive, affirms A2 ratings".
  292. ^ Moody's Investors Service. "Moody's affirms India's Baa3 ratings; outlook stable".
  293. ^ Moody's Investors Service. "Moody's assigns Baa2 ratings to Indonesia's dollar denominated bonds".
  294. ^ Moody's Investors Service. "Moody's affirms Iraq's Caa1 ratings, maintains stable outlook".
  295. ^ Moody's Investors Service. "Moody's upgrades Ireland's ratings to Aa3, outlook stable".
  296. ^ Moody's Investors Service. "Moody's changes the outlook on the Isle of Man to stable from negative, affirms Aa3 ratings".
  297. ^ Moody's Investors Service. "Moody's places Israel's A1 ratings on review for downgrade".
  298. ^ Moody's Investors Service. "Moody's affirms Italy's ratings at Baa3, changes the outlook to stable from negative".
  299. ^ Moody's Investors Service. "Moody's upgrades Jamaica's government ratings to B1 and changes outlook to positive from stable".
  300. ^ Moody's Investors Service. "Moody's affirms Japan's A1 ratings; maintains stable outlook".
  301. ^ Moody's Investors Service. "Moody's changes outlook on Jordan's rating to positive from stable; affirms B1 rating".
  302. ^ Moody's Investors Service. "Moody's changes Kazakhstan's outlook to positive from stable, affirms Baa2 rating".
  303. ^ Moody's Investors Service. "Moody's confirms Kenya's ratings at B3, changes outlook to negative".
  304. ^ Moody's Investors Service. "Moody's affirms Kuwait's A1 rating; maintains stable outlook".
  305. ^ Moody's Investors Service. "Moody's confirms Kyrgyz Republic's ratings at B3, changes outlook to negative".
  306. ^ Moody's Investors Service. "Moody's affirms Latvia's A3 ratings, maintains stable outlook".
  307. ^ Moody's Investors Service. "Moody's affirms Lebanon's C rating, changes outlook to stable from no outlook".
  308. ^ Moody's Investors Service. "Moody's affirms Lithuania's A2 ratings, maintains stable outlook".
  309. ^ Moody's Investors Service. "Moody's affirms Luxembourg's Aaa ratings; maintains stable outlook".
  310. ^ Moody's Investors Service. "Moody's changes outlook to negative from stable on Macao SAR, China's rating; affirms Aa3 rating".
  311. ^ Moody's Investors Service. "Moody's affirms Malaysia's A3 rating, maintains stable outlook".
  312. ^ Moody's Investors Service. "Moody's affirms Maldives' Caa1 rating, maintains stable outlook".
  313. ^ Moody's Investors Service. "Moody's changes Mali's outlook to stable; affirms Caa2 ratings".
  314. ^ Moody's Investors Service. "Moody's affirms Malta's A2 ratings, changes outlook to stable from negative".
  315. ^ Moody's Investors Service. "Moody's downgrades Mauritius's rating to Baa3, changes outlook to stable".
  316. ^ Moody's Investors Service. "Moody's downgrades Mexico's ratings to Baa2, changes outlook to stable from negative".
  317. ^ Moody's Investors Service. "Moody's changes the outlook on Moldova's rating to stable from negative; affirms B3 rating".
  318. ^ Moody's Investors Service. "Moody's affirms Mongolia's B3 rating, maintains stable outlook".
  319. ^ Moody's Investors Service. "Moody's affirms Montenegro's B1 ratings; outlook stable".
  320. ^ Moody's Investors Service. "Moody's affirms Morocco's Ba1 ratings, changes outlook to stable from negative".
  321. ^ Moody's Investors Service. "Moody's changes outlook on Mozambique to stable from positive, affirms Caa2 ratings".
  322. ^ Moody's Investors Service. "Moody's downgrades Namibia's ratings to B1, changes outlook to stable from negative".
  323. ^ Moody's Investors Service. "Moody's affirms the Netherlands' Aaa ratings; outlook remains stable".
  324. ^ Moody's Investors Service. "Moody's affirms New Zealand's Aaa rating, maintains stable outlook".
  325. ^ Moody's Investors Service. "Moody's affirms Nicaragua's B3 ratings and maintains stable outlook".
  326. ^ Moody's Investors Service. "Moody's changes Nigeria's outlook to positive, affirms Caa1 ratings".
  327. ^ Moody's Investors Service. "Moody's affirms the Aaa ratings of Norway; maintains stable outlook".
  328. ^ Moody's Investors Service. "Moody's upgrades Oman to Ba1, changes outlook to stable".
  329. ^ Moody's Investors Service. "Moody's downgrades Pakistan's rating to Caa3; changes outlook to stable from negative".
  330. ^ Moody's Investors Service. "Moody's downgrades Panama's rating to Baa3, changes outlook to stable".
  331. ^ Moody's Investors Service. "Moody's changes Papua New Guinea's outlook to stable from negative; affirms B2 rating".
  332. ^ Moody's Investors Service. "Moody's affirms Paraguay's Ba1 ratings; changes outlook to positive from stable".
  333. ^ Moody's Investors Service. "Moody's changes outlook on Peru's Baa1 rating to negative; affirms ratings".
  334. ^ Moody's Investors Service. "Moody's affirms the Philippines' Baa2 ratings; outlook stable".
  335. ^ Moody's Investors Service. "Moody's affirms Poland's A2 ratings; maintains stable outlook".
  336. ^ Moody's Investors Service. "Moody's upgrades Portugal's ratings to A3 and changes outlook to stable".
  337. ^ Moody's Investors Service. "Moody's changes the outlook on Qatar to positive, affirms Aa3 rating".
  338. ^ Moody's Investors Service. "Moody's affirms Romania's Baa3 ratings, maintains stable outlook".
  339. ^ Moody's Investors Service. "Moody's withdraws credit ratings on multiple entities".
  340. ^ Moody's Investors Service. "Moody's changes outlook on Rwanda to stable from negative; affirms B2 ratings".
  341. ^ Moody's Investors Service. "Moody's affirms St. Vincent and the Grenadines' B3 issuer ratings; maintains stable outlook".
  342. ^ Moody's Investors Service. "Moody's changes Saudi Arabia's outlook to positive, affirms A1 ratings".
  343. ^ Moody's Investors Service. "Moody's changes Senegal's outlook to stable from negative, affirms Ba3 rating".
  344. ^ Moody's Investors Service. "Moody's affirms Serbia's Ba2 ratings; outlook stable".
  345. ^ Moody's Investors Service. "Moody's affirms Singapore's Aaa rating, maintains stable outlook".
  346. ^ Moody's Investors Service. "Moody's maintains negative outlook on Slovakia's A2 ratings".
  347. ^ Moody's Investors Service. "Moody's affirms Slovenia's A3 rating; maintains stable outlook".
  348. ^ Moody's Investors Service. "Moody's changes South Africa's outlook to stable; affirms Ba2 ratings".
  349. ^ Moody's Investors Service. "Moody's affirms Korea's Aa2 rating, maintains stable outlook".
  350. ^ Moody's Investors Service. "Moody's affirms Spain's Baa1 rating and maintains stable outlook".
  351. ^ Moody's Investors Service. "Moody's downgrades Sri Lanka's rating to Ca; outlook stable".
  352. ^ Moody's Investors Service. "Moody's changes Suriname's rating outlook to stable, affirms the Caa3 rating".
  353. ^ Moody's Investors Service. "Moody's affirms Sweden's Aaa ratings; maintains stable outlook".
  354. ^ Moody's Investors Service. "Moody's affirms Switzerland's Aaa ratings, maintains stable outlook".
  355. ^ Moody's Investors Service. "Moody's changes Taiwan, China's outlook to stable from positive, affirms Aa3 rating".
  356. ^ Moody's Investors Service. "Moody's changes outlook on Tajikistan to stable from negative, affirms B3 ratings".
  357. ^ Moody's Investors Service. "Moody's affirms Thailand's Baa1 rating; maintains stable outlook".
  358. ^ Moody's Investors Service. "Moody's affirms Trinidad & Tobago's ratings at Ba2, changes outlook to positive".
  359. ^ Agence Tunis Afrique Presse. "Moody's changes outlook on Tunisia to stable from negative; affirms Caa2 ratings".
  360. ^ Moody's Investors Service. "Moody's downgrades Turkiye's ratings to B3, changes outlook to stable".
  361. ^ Moody's Investors Service. "Moody's changes outlook on Uganda's rating to negative; affirms the B2 rating".
  362. ^ Moody's Investors Service. "Moody's downgrades Ukraine's ratings to Ca with a stable outlook".
  363. ^ Moody's Investors Service. "Moody's affirms the United Arab Emirates' Aa2 rating; maintains stable outlook".
  364. ^ Moody's Investors Service. "Moody's changes the outlook on the UK to stable from negative, affirms Aa3 ratings".
  365. ^ Moody's Investors Service. "Moody's changes outlook on United States' ratings to negative, affirms Aaa ratings".
  366. ^ Moody's Ratings (15 March 2024). "Moody's upgrades Uruguay's ratings to Baa1; changes outlook to stable". Moody's. Retrieved 16 March 2024.
  367. ^ Moody's Investors Service. "Moody's upgrades Uzbekistan's rating to Ba3, outlook stable".
  368. ^ Moody's Investors Service. "Moody's withdraws certain Government of Venezuela ratings for business reasons".
  369. ^ Moody's Investors Service. "Moody's upgrades Vietnam's rating to Ba2, outlook changed to stable".
  370. ^ Moody's Investors Service. "Moody's affirms Zambia's Ca ratings; outlook stable".
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