Credit Rating by Country
MacroVar monitors the credit rating developments for all the major economies in the world. Click on each country's link to explore the country's credit rating historical data. Credit ratings are one of the indicators MacroVar uses to monitor a country's risk. Other indicators include Macroeconomic data and the country's financial markets dynamics.
The major credit rating agencies monitored are Standard & Poors (S&P), Fitch and Moody's. Each agency assigns a credit rating for each country indicating the level of the country's creditworthiness, that is the probability of a country to meet its financial obligations to creditors. The rating is expressed as a letter index. Learn more on each agency's index and meaning. The credit rating assigns the rating based on analysis of country's macroeconomic growth, fiscal and monetary policies and financial stability. Each agency also provides an outlook on the long-term development of a country's economy: positive, stable, negative.
|Country||S&P Rating||Moody's Rating||Fitch Rating|
Credit Rating Letter Index analysis
|AAA||Aaa||AAA||Prime rating: The highest level of creditworthiness.|
|AA+||Aa1||AA+||High grade: Very high sovereign creditworthiness|
|A+||A1||A+||Upper medium grade: High creditworthiness, but the country's economy is vulnerable to global financial conditions|
|BBB+||Baa1||BBB+||Lower medium grade: The country's economy is exposed to adverse economic conditions|
|BB+||Ba1||BB+||Non-investment grade (speculative): The economy is currently stable, but is highly likely to b ecome unstable in the long term due to the adverse economic and financial conditions.|
|B+||B1||B+||Highly speculative: The country is marginally creditworthy with a high probability of facing financial and economic headwinds.|
|CCC+||Caa1||CCC||Extremely speculative: The country is not creditworthy, since its economy is weak.|
|CCC-||Caa3||In Default with small probability of recovery|
|CC||Ca||High Probability of Default: the economy is extremely weak, and there is a high probability of default.|
|D||/||DDD||In default: The country is in default hence it's credit obligations are not met.|