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
TE81 Stable Oct 05 2018
FitchAA- Stable Oct 05 2018
TE81 Stable Oct 05 2018
TE81 Stable Nov 10 2017
FitchA+ Positive Nov 10 2017
TE81 Stable Nov 10 2017
TE81 Stable Jul 14 2017
DBRSAA (low) Stable Jul 14 2017
TE81 Stable Jul 14 2017
TE81 Stable Apr 16 2016
TE81 Stable Apr 16 2016
TE81 Stable Apr 16 2016
TE81 Stable Apr 22 2014
TE81 Stable Apr 22 2014
TE81 Stable Mar 21 2014
TE81 Stable Mar 21 2014
TE81 Stable Oct 15 2013
TE81 Stable Oct 15 2013
TE81 Stable Jul 18 2013
TE81 Stable Jul 18 2013
TE81 Stable Jun 10 2013
TE81 Stable Jun 10 2013
TE81 Negative Oct 19 2012
S&PAA- Stable Oct 19 2012
TE81 Negative Oct 19 2012
S&PAA- Negative Jan 13 2012
TE81 Negative Watch Jan 13 2012
TE81 Negative Watch Jan 13 2012
TE81 Stable Dec 05 2011
S&PAA- Negative Watch Dec 05 2011
TE81 Stable Dec 05 2011
TE81 Stable Nov 28 2011
TE81 Stable Nov 28 2011
FitchA+ Stable Nov 21 2011
TE81 Stable Nov 21 2011
TE81 Stable Nov 21 2011
TE78 Positive Aug 09 2011
S&PAA- Stable Aug 09 2011
TE78 Positive Aug 09 2011
TE78 Positive Aug 05 2011
TE78 Positive Aug 05 2011
TE78 Positive Aug 02 2011
TE78 Positive Aug 02 2011
TE78 Positive Jul 14 2011
TE78 Positive Jul 14 2011
TE78 Positive Jul 13 2011
TE78 Positive Jul 13 2011
FitchA+ Stable Jul 05 2011
TE76 Positive Jul 05 2011
TE76 Positive Jul 05 2011
TE76 Stable Apr 21 2011
S&PA Positive Apr 21 2011
TE76 Stable Apr 21 2011
TE76 Stable Apr 18 2011
TE76 Stable Apr 18 2011
FitchA Stable Jul 19 2010
TE73 Stable Jul 19 2010
TE73 Stable Jul 19 2010
TE71 Stable Jun 10 2010
S&PA Stable Jun 10 2010
TE71 Stable Jun 10 2010
Moody'sA1 Stable Mar 31 2010
TE71 Stable Mar 31 2010
TE71 Stable Mar 31 2010
FitchBBB+ Positive Watch Mar 30 2010
TE71 Stable Mar 30 2010
TE71 Stable Mar 30 2010
S&PA- Stable Feb 11 2010
TE71 Negative Feb 11 2010
TE71 Negative Feb 11 2010
TE71 Negative Feb 05 2010
FitchBBB+ Stable Feb 05 2010
TE71 Negative Feb 05 2010
S&PA- Negative Aug 10 2009
TE73 Negative Aug 10 2009
TE73 Negative Aug 10 2009
TE73 Negative Watch Apr 21 2009
S&PA Negative Apr 21 2009
TE73 Negative Watch Apr 21 2009
FitchBBB+ Negative Apr 08 2009
TE75 Negative Watch Apr 08 2009
TE75 Negative Watch Apr 08 2009
TE75 Negative Feb 24 2009
S&PA Negative Watch Feb 24 2009
TE75 Negative Feb 24 2009
Moody'sA1 Negative Watch Feb 10 2009
TE75 Negative Feb 10 2009
TE75 Negative Feb 10 2009
TE75 Negative Nov 07 2008
Moody'sA1 Negative Nov 07 2008
TE75 Negative Nov 07 2008
FitchA- Negative Oct 03 2008
TE76 Negative Oct 03 2008
TE76 Negative Oct 03 2008
TE76 Negative Jan 31 2008
FitchA Negative Jan 31 2008
TE76 Negative Jan 31 2008
Moody'sA1 Stable Sep 12 2007
TE76 Negative Sep 12 2007
TE76 Negative Sep 12 2007


 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 60
B- B3 B 28
B B2 B B 31
B1 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- 36
BB- Ba3 BB- 40
SD Caa3 15
B B3 B 26
AA Aa3 AA- AA (high) 88
B- B3 20
B+ N/A 30
A+ A2 N/A 78
BB- Ba3 BB- 41
B B3 28
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) 81
BBB- Baa2 BBB BBB 58
CCC+ B3 22
BB- Ba2 BB 43
BB+ Ba2 BB+ 48
Caa2 15
BBB- Ba2 BBB- BB 48
AA- A1 AA- 81
AAA Aaa AAA AAA 100
BB- Ba3 BB- 38
B- B3 B- 26
B B3 B 28
CCC+ B3 B- 21
AA- A1 AA- AA (low) 81
B B1 B 31
AA Aaa AAA AAA 98
B+ Ba3 35
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 B 26
BB- Ba2 BB- 41
AAA Aaa AAA AAA 100
B B3 B 26
B+ B3 BB- B (high) 30
SD
BB- Ba1 BB 46
BB- B1 35
AA+ Aa2 AA+ 95
BBB- Baa3 BBB- 55
A A3 A 73
BBB- Baa2 BBB- BBB 56
BBB- Baa2 BBB 56
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 77
B+ B1 37
BBB- Baa3 BBB 56
B+ B2 B+ 35
AA Aa2 AA 90
NR B2 30
A A3 A- A (low) 70
B- B3 B- 28
B+ 35
AAA 100
A A3 A- A (low) 71
AAA Aaa AAA AAA 100
Aa3 AA 85
BB- BB 42
A- A3 A- 70
B2 B+ 32
A- A3 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+ 52
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B2 B 30
B B2 B+ 31
AAA Aaa AAA AAA 99
BB Baa3 BBB- 53
B B3 B 28
BBB Baa2 BBB 60
B B2 32
BB Ba1 BB 46
BBB+ A3 BBB+ N/A 65
BBB Baa2 BBB 60
A- A2 A- A 71
BBB- Baa3 BBB BBB 56
D 0
AA- Aa3 AA- 85
B- Caa2 CC 23
BBB- Baa3 BBB- 55
BBB- Ba1 BBB- 51
B B2 B+ 31
BBB- 55
A- A1 A+ 78
B+ Ba3 37
BB Ba3 BB 38
BB- 40
AAA Aaa AAA AAA 98
A+ A2 A+ A (high) 78
A+ Baa1 A- A 72
B3 25
BB Baa3 BB+ 50
AA Aa2 AA- 86
A- Baa1 A- A 68
B+ B1 B+ 35
B3 25
B B2 B- 28
B2
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3
B1
BBB+ Baa1 BBB+ 65
BBB+ Ba1 57
N/A B2 B+ 35
B+ Ba3 BB BB (high) 43
B B2 B+ 33
B- Caa2 B- 20
AA Aa2 AA 90
AA Aa2 AA AAA 93
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
SD C RD 12
BB- Ba3 BB 40
B- Caa1 B- 34


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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Estonia - Credit Rating