Standard & Poor's credit rating for Estonia stands at AA- with stable outlook. Moody's credit rating for Estonia was last set at A1 with stable outlook. Fitch's credit rating for Estonia was last reported at AA- with stable outlook. DBRS's credit rating for Estonia is AA (low) with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Estonia thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Estonia as reported by major credit rating agencies.



AgencyRatingOutlookDate
FitchAA- Stable Oct 05 2018
FitchA+ Positive Nov 10 2017
DBRSAA (low) Stable Jul 14 2017
S&PAA- Stable Oct 19 2012
S&PAA- Negative Jan 13 2012
S&PAA- Negative Watch Dec 05 2011
FitchA+ Stable Nov 21 2011
S&PAA- Stable Aug 09 2011
FitchA+ Stable Jul 05 2011
S&PA Positive Apr 21 2011
FitchA Stable Jul 19 2010
S&PA Stable Jun 10 2010
Moody'sA1 Stable Mar 31 2010
FitchBBB+ Positive Watch Mar 30 2010
S&PA- Stable Feb 11 2010
FitchBBB+ Stable Feb 05 2010
S&PA- Negative Aug 10 2009
S&PA Negative Apr 21 2009
FitchBBB+ Negative Apr 08 2009
S&PA Negative Watch Feb 24 2009
Moody'sA1 Negative Watch Feb 10 2009
Moody'sA1 Negative Nov 07 2008
FitchA- Negative Oct 03 2008
FitchA Negative Jan 31 2008
Moody'sA1 Stable Sep 12 2007
S&PA Negative Jul 02 2007
FitchA Stable Aug 31 2006
S&PA Stable Jul 17 2006
Moody'sA1 Positive Mar 09 2006
S&PA Positive Jul 21 2005
S&PA Stable Nov 17 2004
FitchA Positive Jul 07 2004
S&PA- Positive Dec 18 2003
FitchA- Positive Oct 22 2003
Moody'sA1 Stable Nov 12 2002
S&PA- Stable Nov 20 2001
FitchA- Stable Aug 30 2001
FitchBBB+ Positive Watch Jul 30 2001
S&PBBB+ Positive Dec 22 2000
FitchBBB+ Stable Sep 28 2000
FitchBBB Positive Watch Aug 07 2000
S&PBBB+ Stable Dec 11 1997
FitchBBB N/A Sep 11 1997
Moody'sBaa1 Stable Sep 11 1997


 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 62
B- B3 B 26
CCC- Caa2 CC CC 12
Ba3 B+ 35
BBB+ BBB- 60
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 50
BB+ Baa3 52
B+ B2 BB- 35
BB- Ba3 BB- 40
SD Caa1 15
B B3 B 26
AA Aa3 AA- AA (high) 88
B- B3 20
B+ B2 B 32
A+ A2 N/A 78
BB- Ba3 BB- 40
B B3 27
A- A2 72
BB- Ba2 BB- BB (low) 42
BBB- Baa2 BBB 58
B 25
N/A B2 30
B B2 B 30
AAA Aaa AAA AAA 99
B B 30
Aa3 85
A+ A1 A N/A 80
A+ A1 A+ A (high) 80
BBB- Baa2 BBB BBB 58
CCC+ Caa1 20
B+ B1 B+ 38
BBB- Ba2 BBB- 50
Caa2 15
BBB- Ba2 BBB- BBB (low) 50
AA- A1 AA- 81
AAA Aaa AAA AAA 100
BB- Ba3 BB- 38
B- B3 B- 25
B B2 B+ 30
B- B3 B- 23
AA- A1 AA- AA (low) 81
B B1 B 31
AA Aaa AAA AAA 98
BB- Ba3 37
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 B 26
BB- Ba2 BB 43
AAA Aaa AAA AAA 100
B B3 B 26
B+ B1 BB- BB (low) 35
SD
BB- Ba1 BB 45
BB- B1 35
AA+ Aa2 AA 93
BBB Baa3 BBB 56
A A3 A 73
BBB- Baa2 BBB- BBB 56
BBB Baa2 BBB 58
B- Caa1 B- 25
A+ A2 A+ A (high) 76
N/A Aa2 92
AA- A1 A+ 80
BBB Baa3 BBB BBB (high) 62
Ba3 B+ 38
B B3 B+ 28
A+ A1 A A (high) 77
B+ B1 BB- 35
BBB- Baa3 BBB 56
B+ B2 B+ 35
AA Aa2 AA 90
NR B2 30
A A3 A- A (low) 71
B- Caa1 CCC 23
B 35
AAA 100
A A3 A- A 72
AAA Aaa AAA AAA 100
Aa3 AA 85
BB- BB+ 42
A- A3 A- 66
B2 B+ 32
A- A2 A+ A (high) 73
Baa1 65
BBB+ A3 BBB BBB (high) 65
B3 25
B B3 B 26
B+ B1 35
BBB- 55
BBB- Ba1 BBB- 53
SD Caa3 RD 12
Ba1 BB+ 50
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B2 B- 26
B B2 B+ 31
AAA Aaa AAA AAA 99
BB Ba1 BB+ 48
B- B3 B- 26
BBB+ Baa1 BBB 61
B B2 30
BB Ba1 BB+ 46
BBB+ A3 BBB+ N/A 65
BBB+ Baa2 BBB 60
A- A2 A- A 71
BBB Baa3 BBB BBB 58
D 0
AA- Aa3 AA- 85
B- Caa2 CCC 20
BBB- Baa3 BBB- 55
BBB- Baa3 BBB 55
B+ B2 B+ 31
BBB- 55
A- A1 A+ 78
B+ Ba3 37
BB Ba3 BB 41
BB 40
AAA Aaa AAA AAA 98
A+ A2 A+ A (high) 78
AA- Baa1 A A 75
B3 25
BB Baa3 BB+ 50
AA Aa2 AA- 86
A- Baa1 A- A 68
B B2 B 31
B3 25
B B2 B- 28
B2
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3 25
B1
BBB+ Baa1 BBB+ 65
B
BBB Ba1 57
N/A B2 B+ 31
B+ B1 BB- BB (high) 38
B B2 B+ 33
B- Caa1 B 23
AA Aa2 AA 90
AA Aa2 AA AAA 92
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
BB- B1 BB- 40
SD WR RD 11
BB Ba3 BB 43
CCC+ Caa2 CCC 30


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
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
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
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


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