South Africa - Credit Rating

Standard & Poor's credit rating for South Africa stands at BB with stable outlook. Moody's credit rating for South Africa was last set at Baa3 with stable outlook. Fitch's credit rating for South Africa was last reported at BB+ 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 South Africa thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for South Africa as reported by major credit rating agencies.



AgencyRatingOutlookDate
Moody'sBaa3 Stable Mar 23 2018
S&PBB Stable Nov 24 2017
Moody'sBaa3 Under Review Nov 24 2017
Moody'sBaa3 Negative Jun 09 2017
FitchBB+ Stable Apr 07 2017
Moody'sBaa2 Negative Watch Apr 03 2017
S&PBB+ Negative Apr 03 2017
FitchBBB- Negative Nov 25 2016
Moody'sBaa2 Negative May 06 2016
TE49 Negative Apr 16 2016
Moody'sBaa2 Negative Watch Mar 08 2016
FitchBBB- Stable Dec 04 2015
S&PBBB- Negative Dec 04 2015
Moody'sBaa2 Negative Nov 06 2014
Moody'sBaa2 Stable Nov 06 2014
S&PBBB- Stable Jun 13 2014
FitchBBB Negative Jun 13 2014
FitchBBB Stable Jan 10 2013
S&PBBB Negative Oct 12 2012
Moody'sBaa1 Negative Sep 27 2012
S&PBBB+ Negative Mar 28 2012
FitchBBB+ Negative Jan 13 2012
Moody'sA3 Negative Nov 09 2011
S&PBBB+ Stable Jan 25 2011
FitchBBB+ Stable Jan 17 2011
Moody'sA3 Stable Jul 16 2009
S&PBBB+ Negative Nov 11 2008
FitchBBB+ Negative Nov 09 2008
FitchBBB+ Stable Jun 17 2008
FitchBBB+ Positive Jul 25 2007
Moody'sBaa1 Positive Jun 05 2007
FitchBBB+ Stable Aug 25 2005
S&PBBB+ Stable Aug 01 2005
Moody'sBaa1 Stable Jan 11 2005
FitchBBB Positive Oct 21 2004
Moody'sBaa2 Positive Watch Oct 14 2004
S&PBBB Stable May 07 2003
FitchBBB Stable May 02 2003
FitchBBB- Positive Watch Mar 11 2003
Moody'sBaa2 Positive Feb 26 2003
S&PBBB- Positive Nov 12 2002
FitchBBB- Positive Aug 20 2002
Moody'sBaa2 Stable Nov 29 2001
Moody'sBaa3 Positive Watch Oct 12 2001
FitchBBB- Stable Sep 21 2000
FitchBBB- N/A Jun 27 2000
FitchBB+ N/A May 19 2000
S&PBBB- Stable Feb 25 2000
Moody'sBaa3 Positive Feb 07 2000
Moody'sBaa3 Stable Oct 08 1998
Moody'sBaa3 Negative Watch Jul 17 1998
FitchBB N/A May 28 1998
FitchBB Positive Watch Feb 17 1998
S&PBB+ Stable Nov 20 1995
S&PBB Stable Oct 03 1994
Moody'sBaa3 Stable Oct 03 1994
FitchBB N/A Sep 22 1994


 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 65
B- B3 B 41
B+ B2 B B 15
B1 B+ 43
BBB+ BBB- 63
AAA Aaa AAA AAA 97
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 55
BB+ Baa3 65
B+ B2 BB- 60
BB- Ba3 BB- 40
SD Caa3 53
B B3 B 25
AA Aa3 AA- AA (high) 88
B- B3 25
B+ N/A 30
A+ A2 N/A 91
BB- Ba3 BB- 38
B B3 28
A- A2 73
BB- Ba2 BB- BB (low) 34
BBB- Baa2 BBB 53
B 30
N/A B2 30
B B2 B 30
AAA Aaa AAA AAA 99
B B 35
Aa3 85
A+ A1 A N/A 78
A+ A1 A+ A (high) 80
BBB- Baa2 BBB BBB 52
CCC+ B3 25
BB- Ba2 BB 50
BB+ Ba2 BB+ 45
Caa2 20
BBB- Ba2 BB+ BB 36
AA- A1 AA- 81
AAA Aaa AAA AAA 100
BB- Ba3 BB- 36
B- B3 B- 29
B B3 B 28
CCC+ B3 B- 41
AA- A1 A+ AA (low) 81
B B1 B 31
AA Aaa AAA AAA 99
B+ Ba3 33
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 90
N/A Caa1 B 40
BB- Ba2 BB- 38
AAA Aaa AAA AAA 100
B B3 B 31
B+ B3 BB- B (high) 10
SD
BB- Ba1 BB 49
BB- B1 33
AA+ Aa2 AA+ 95
BBB- Baa3 BBB- 47
A A3 A 55
BBB- Baa2 BBB- BBB 48
BBB- Baa2 BBB 46
B- Caa1 B- 25
A+ A2 A+ A (high) 70
N/A Aa2 98
AA- A1 A+ 76
BBB Baa2 BBB BBB (high) 60
Ba3 B+ 38
B B3 B 24
A+ A1 A A 78
B+ B1 45
BBB- Baa3 BBB 61
B+ B2 B+ 20
AA Aa2 AA 90
NR B2 30
A- A3 A- A (low) 69
B- B3 B- 31
B+ 40
AAA 100
A A3 A- A (low) 69
AAA Aaa AAA AAA 100
Aa3 AA 88
BB- BB 48
A- A3 A- 66
B2 B+
A- A3 A+ A (high) 74
Baa1 65
BBB+ A3 BBB+ BBB (high) 60
B3 25
B- B3 B 36
B+ B1 40
BBB- 55
BBB- Ba1 BBB- 54
SD Caa3 RD 30
Ba1 BB+ 55
AAA Aaa AAA AAA 100
AA Aaa AA 90
B B2 B 33
B B2 B+ 28
AAA Aaa AAA AAA 99
BB Baa3 BBB- 78
B B3 B 19
BBB Baa2 BBB 60
B B2 35
BB Ba1 BB 41
BBB+ A3 BBB+ N/A 60
BBB Baa2 BBB 53
BBB+ A2 A- A 67
BBB- Ba1 BBB BBB 44
D 0
AA- Aa3 AA- 87
CCC+ B3 CC 30
BBB- Baa3 BBB- 52
BBB- Ba1 BBB- 43
B B2 B+ 30
BBB- 65
A- A1 A+ 86
B+ Ba3 35
BB Ba3 BB 36
BB- 30
AAA Aaa AAA AAA 98
A+ A2 A+ A (high) 80
A+ Baa1 A- A 61
B3 25
BB Baa3 BB+ 49
AA Aa2 AA- 84
A- Baa1 A- A 62
B+ B1 B+ 38
B3 25
B B2 B- 39
B2
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 82
B- B3
B1
BBB+ Baa1 BBB+ 63
BBB+ Ba1 68
N/A B2 B+ 44
B+ Ba3 BB BB (high) 44
B B2 B+ 33
B- Caa2 B- 15
AA Aa2 AA 90
AA Aa2 AA AAA 95
AA+ Aaa AAA AAA 97
BBB Baa2 BBB- BBB (low) 56
SD C RD 5
BB- Ba3 BB 29
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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