China Credit Rating trends, research and data
This page includes the government debt credit rating and outlook of China as reported by the credit rating agencies of S&P, Moody’s and Fitch. Credit rating agencies are often slow to respond to rising risk conditions. Sign up free to monitor China’s sovereign risk using MacroVar Advanced Financial & Macroeconomic data analytics.
| Date | Rating | Outlook | Indicator |
|---|---|---|---|
| 29-08-22 | A1 (Stable) | A1 | China Credit Rating (Moody's) |
| 14-09-20 | A1 (Stable) | A1 | China Credit Rating (Moody's) |
| 19-11-19 | A+ | A+ | China Credit Rating (Fitch) |
| 04-07-19 | A1 (Stable) | A1 | China Credit Rating (Moody's) |
| 04-12-18 | A+ | A+ | China Credit Rating (Fitch) |
| 20-03-18 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 21-09-17 | A+ (Stable) | A+ | China Credit Rating (S&P) |
| 13-07-17 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 24-05-17 | A1 (Stable) | A1 | China Credit Rating (Moody's) |
| 21-11-16 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 22-07-16 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 31-03-16 | (Negative) | China Credit Rating (S&P) | |
| 02-03-16 | Aa3 (Negative) | Aa3 | China Credit Rating (Moody's) |
| 26-11-15 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 31-03-15 | A+ | A+ | China Credit Rating (Fitch) |
| 04-09-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 11-08-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 02-05-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 04-04-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 03-03-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 05-02-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 07-01-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 03-01-14 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 28-10-13 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
| 27-06-13 | A+ (Stable) | A+ | China Credit Rating (Fitch) |
China Credit Rating Analysis
The credit rating signal from each credit rating agency for the sovereign debt of China and it’s meaning is presented in the table below.
| S&P | Moody’s | Fitch | Analysis |
| AAA | Aaa | AAA | Prime |
| AA+ | Aa1 | AA+ | High grade |
| AA | Aa2 | AA | |
| AA- | Aa3 | AA- | |
| A+ | A1 | A+ | Upper medium grade |
| A | A2 | A | |
| A- | A3 | A- | |
| BBB+ | Baa1 | BBB+ | Lower medium grade |
| BBB | Baa2 | BBB | |
| BBB- | Baa3 | BBB- | |
| BB+ | Ba1 | BB+ | Non-investment grade speculative |
| BB | Ba2 | BB | |
| BB- | Ba3 | BB- | |
| B+ | B1 | B+ | Highly speculative |
| B | B2 | B | |
| B- | B3 | B- | |
| CCC+ | Caa1 | CCC | Extremely speculative |
| CCC | Caa2 | ||
| CCC- | Caa3 | In Default with small probability of recovery | |
| CC | Ca | ||
| C | C | ||
| D | / | DDD | In default |