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.

DateRatingOutlookIndicator
26-11-21A1 (Stable)A1Japan Credit Rating (Moody's)
09-06-20(Stable)Japan Credit Rating (S&P)
02-02-20AAJapan Credit Rating (Fitch)
24-10-19A1 (Stable)A1Japan Credit Rating (Moody's)
16-07-19AAJapan Credit Rating (Fitch)
22-01-19AAJapan Credit Rating (Fitch)
25-04-18A (Stable)AJapan Credit Rating (Fitch)
13-04-18(Positive)Japan Credit Rating (S&P)
06-12-17A1 (Stable)A1Japan Credit Rating (Moody's)
27-04-17A (Stable)AJapan Credit Rating (Fitch)
30-08-16A1 (Stable)A1Japan Credit Rating (Moody's)
22-07-16A (Negative)AJapan Credit Rating (Fitch)
13-06-16A (Negative)AJapan Credit Rating (Fitch)
07-04-16A (Stable)AJapan Credit Rating (Fitch)
16-09-15A+ (Stable)A+Japan Credit Rating (S&P)
27-04-15A (Stable)AJapan Credit Rating (Fitch)
09-12-14A+A+Japan Credit Rating (Fitch)
01-12-14A1 (Stable)A1Japan Credit Rating (Moody's)
22-09-14A+ (Negative)A+Japan Credit Rating (Fitch)
09-09-14A+ (Negative)A+Japan Credit Rating (Fitch)
05-09-14A+ (Negative)A+Japan Credit Rating (Fitch)
22-08-14A+ (Negative)A+Japan Credit Rating (Fitch)
13-08-14A+ (Negative)A+Japan Credit Rating (Fitch)
05-08-14A+ (Negative)A+Japan Credit Rating (Fitch)
31-07-14A+ (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&PMoody’sFitchAnalysis
AAAAaaAAAPrime
AA+Aa1AA+High grade
AAAa2AA
AA-Aa3AA-
A+A1A+Upper medium grade
AA2A
A-A3A-
BBB+Baa1BBB+Lower medium grade
BBBBaa2BBB
BBB-Baa3BBB-
BB+Ba1BB+Non-investment grade
speculative
BBBa2BB
BB-Ba3BB-
B+B1B+Highly speculative
BB2B
B-B3B-
CCC+Caa1CCCExtremely speculative
CCCCaa2
CCC-Caa3In Default with small probability of recovery
CCCa
CC
D/DDDIn default