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 rating A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government). It is the practice of predicting or forecasting the ability of a supposed debtor to pay back the debt or default. The ...
s for
sovereign bonds A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity da ...
as reported by the largest three major credit rating agencies:
Standard & Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is co ...
, Fitch, and
Moody's Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its histo ...
. The list also includes all
administrative divisions Administrative divisions (also administrative units, administrative regions, subnational entities, or constituent states, as well as many similar generic terms) are geographical areas into which a particular independent sovereign state is divi ...
not issuing sovereign bonds, but it excludes regions, provinces and municipalities issuing sub-sovereign bonds.


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 In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...
, sometimes also referred to as "junk" bonds. An SD rating indicates that the country has selectively defaulted on some outstanding obligations.


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 In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...
, sometimes also referred to as "junk" bonds. 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'.


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 In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...
, sometimes also referred to as "junk" bonds.


Others


DBRS Morningstar

For DBRS Morningstar, 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 In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...
, sometimes also referred to as "junk" bonds.


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 In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...
, sometimes also referred to as "junk" bonds.


JCR

Japan Credit Rating Agency (JCR) is a credit rating agency based in
Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...
. JCR is a
Nationally Recognized Statistical Rating Organization A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) approved by the U.S. Securities and Exchange Commission (SEC) to provide information that financial firms must rely on for certain regulatory purpo ...
by the U.S. Securities and Exchange Commission.


China Chengxin

China Chengxin Credit Rating Group is a credit rating agency based in
China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...
.


CareEdge Global Ratings

CareEdge Group is an Indian credit rating agency. For CareEdge, 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 In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...
. A bond is considered in default if its credit rating is D.


Unrated


See also

*
Bond credit rating In investment, the bond credit rating represents the credit worthiness of corporate or government bonds. The ratings are published by credit rating agencies and used by investment professionals to assess the likelihood the debt will be repaid. C ...
* List of U.S. states by credit rating * United States federal government credit-rating downgrades * Global debt


References


External links


S&P Global Ratings

Fitch Ratings

Moody's

DBRS Morningstar

Scope Ratings

Japan Credit Rating Agency

China Chengxin Credit Rating Group

Sovereigns Ratings List
at Countryeconomy.com {{Finance country lists
credit rating A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government). It is the practice of predicting or forecasting the ability of a supposed debtor to pay back the debt or default. The ...
Credit rating