Taiwan Credit Rating trends, research and data
This page includes the government debt credit rating and outlook of Taiwan 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 Taiwan’s sovereign risk using MacroVar Advanced Financial & Macroeconomic data analytics.
| Date | Rating | Outlook | Indicator |
|---|---|---|---|
| 22-09-22 | Aa3 (Stable) | Aa3 | Taiwan Credit Rating (Moody's) |
| 29-04-22 | AA+ (Stable) | AA+ | Taiwan Credit Rating (S&P) |
| 10-09-21 | AA (Stable) | AA | Taiwan Credit Rating (Fitch) |
| 22-04-21 | AA (Positive) | AA | Taiwan Credit Rating (S&P) |
| 24-02-21 | Aa3 (Positive) | Aa3 | Taiwan Credit Rating (Moody's) |
| 25-09-19 | AA- | AA- | Taiwan Credit Rating (Fitch) |
| 08-11-18 | Aa3 (Stable) | Aa3 | Taiwan Credit Rating (Moody's) |
| 09-10-18 | AA- | AA- | Taiwan Credit Rating (Fitch) |
| 11-10-17 | AA- (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 17-11-16 | Aa3 (Stable) | Aa3 | Taiwan Credit Rating (Moody's) |
| 12-10-16 | AA- (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 22-07-16 | A+ (Positive) | A+ | Taiwan Credit Rating (Fitch) |
| 12-10-15 | A+ (Positive) | AA- | Taiwan Credit Rating (Fitch) |
| 12-08-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 04-08-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 18-07-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 28-05-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 29-04-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 10-03-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 05-03-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 31-01-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 16-01-14 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 09-10-13 | Aa3 (Stable) | Aa3 | Taiwan Credit Rating (Moody's) |
| 30-09-13 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
| 30-08-13 | A+ (Stable) | AA- | Taiwan Credit Rating (Fitch) |
Taiwan Credit Rating Analysis
The credit rating signal from each credit rating agency for the sovereign debt of Taiwan 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 |