Japan Credit Rating trends, research and data
This page includes the government debt credit rating and outlook of Japan 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 Japan’s sovereign risk using MacroVar Advanced Financial & Macroeconomic data analytics.
| Date | Rating | Outlook | Indicator |
|---|---|---|---|
| 26-11-21 | A1 (Stable) | A1 | Japan Credit Rating (Moody's) |
| 09-06-20 | (Stable) | Japan Credit Rating (S&P) | |
| 02-02-20 | A | A | Japan Credit Rating (Fitch) |
| 24-10-19 | A1 (Stable) | A1 | Japan Credit Rating (Moody's) |
| 16-07-19 | A | A | Japan Credit Rating (Fitch) |
| 22-01-19 | A | A | Japan Credit Rating (Fitch) |
| 25-04-18 | A (Stable) | A | Japan Credit Rating (Fitch) |
| 13-04-18 | (Positive) | Japan Credit Rating (S&P) | |
| 06-12-17 | A1 (Stable) | A1 | Japan Credit Rating (Moody's) |
| 27-04-17 | A (Stable) | A | Japan Credit Rating (Fitch) |
| 30-08-16 | A1 (Stable) | A1 | Japan Credit Rating (Moody's) |
| 22-07-16 | A (Negative) | A | Japan Credit Rating (Fitch) |
| 13-06-16 | A (Negative) | A | Japan Credit Rating (Fitch) |
| 07-04-16 | A (Stable) | A | Japan Credit Rating (Fitch) |
| 16-09-15 | A+ (Stable) | A+ | Japan Credit Rating (S&P) |
| 27-04-15 | A (Stable) | A | Japan Credit Rating (Fitch) |
| 09-12-14 | A+ | A+ | Japan Credit Rating (Fitch) |
| 01-12-14 | A1 (Stable) | A1 | Japan Credit Rating (Moody's) |
| 22-09-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
| 09-09-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
| 05-09-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
| 22-08-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
| 13-08-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
| 05-08-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
| 31-07-14 | A+ (Negative) | A+ | Japan Credit Rating (Fitch) |
Japan Credit Rating Analysis
The credit rating signal from each credit rating agency for the sovereign debt of Japan 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 |