B- B3 B- 23
B+ B1 B+ 33
BBB+ A3 67
CCC+ 20
B- B2 B 28
B- B- 27
B- Caa1 20
B B2 B+ 31
CCC Caa2 CCC 18
N/A Caa1 B- 23
B- Caa1 B- 22
BB- Ba3 BB- 38
B B2 B+ 33
B 30
Caa2 15
Baa2 65
BB+ Ba1 BB+ 51
CCC+ Caa2 CCC 18
B1 BB- 42
B- B2 B 28
CCC+ Caa2 CCC 20
B+ B2 B+ 33
B+ Ba3 37
B+ 35
BB- Ba2 BB- 41
B3 30
B2 35
B B3 30
N/A Caa1 CCC 25
B B2 B+ 31
SD Ca RD 30

Credit Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com

This page includes the sovereign debt credit rating for a list of countries as reported by major credit rating agencies.