Standard & Poor's credit rating for Hong Kong stands at AA+ with stable outlook. Moody's credit rating for Hong Kong was last set at Aa3 with stable outlook. Fitch's credit rating for Hong Kong was last reported at AA- 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 Hong Kong thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Hong Kong as reported by major credit rating agencies.


AgencyRatingOutlookDate
FitchAA- Stable Apr 20 2020
Moody'sAa3 Stable Jan 20 2020
Moody'sAa2 Negative Sep 16 2019
FitchAA Negative Sep 05 2019
S&PAA+ Stable Sep 22 2017
Moody'sAa2 Stable May 24 2017
S&PAAA Negative Mar 31 2016
Moody'sAa1 Negative Mar 12 2016
Moody'sAa1 Stable Apr 16 2013
FitchAA+ Stable Nov 21 2011
S&PAAA Stable Dec 16 2010
FitchAA+ Stable Nov 25 2010
Moody'sAa1 Positive Nov 10 2010
Moody'sAa2 Positive Watch Oct 08 2010
Moody'sAa2 Positive Nov 08 2009
S&PAA+ Stable Jul 31 2008
Moody'sAa2 Stable Sep 26 2007
S&PAA Positive Jul 26 2007
FitchAA Stable Jul 12 2007
Moody'sAa3 Positive Watch May 30 2007
Moody'sAa3 Positive Sep 26 2006
S&PAA Stable Jul 27 2006
FitchAA- Positive Jul 24 2006
Moody'sA1 Positive Jul 06 2006
Moody'sA1 Positive Watch Jul 06 2006
S&PAA- Positive Apr 18 2006
S&PAA- Stable Jul 19 2005
S&PA+ Positive May 03 2005
FitchAA- Stable May 16 2004
Moody'sA1 Stable Oct 15 2003
Moody'sA3 Positive Watch Sep 21 2003
FitchAA- Negative Apr 24 2003
FitchAA- Stable Jun 25 2001
Moody'sA3 Positive Feb 15 2001
S&PA+ Stable Feb 08 2001
FitchA+ Stable Sep 21 2000
Moody'sA3 Stable May 05 2000
S&PA Stable Dec 06 1999
Moody'sA3 Negative Watch Sep 03 1998
S&PA Negative Aug 31 1998
S&PA+ Negative Watch Jun 22 1998
Moody'sA3 Negative Feb 19 1998
S&PA+ Stable May 14 1997
FitchA+ N/A Aug 09 1995
S&PA Positive Feb 13 1995
FitchAA- N/A Aug 10 1994
S&PA Negative Sep 07 1993
S&PA N/A Dec 07 1992
S&PA Negative Watch Dec 04 1992
S&PA Stable Feb 12 1990
S&PA Negative Feb 09 1990
Moody'sA3 Stable Nov 08 1989
S&PA+ Negative Jun 26 1989
Moody'sA2 Stable Nov 09 1988
S&PA+ N/A Oct 23 1988

 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 62
CCC+ B3 CCC 20
CCC+ Ca CCC CCC 15
Ba3 B+ 16
BBB BB 52
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 48
BB- Ba3 42
B+ B2 B+ 33
BB- Ba3 BB- 40
B- Caa1 22
B B3 B 28
AA Aa3 AA- AA (high) 86
SD Caa3 9
B+ B1 B 31
A+ A2 N/A 78
B+ B2 B 31
B B3 27
BBB+ A3 67
BB- Ba2 BB- BB (low) 42
BBB Baa1 BBB 61
B 25
N/A B2 30
B- B2 B 28
AAA Aaa AA+ AAA 100
B- B- 27
Aa3 85
A A1 A- N/A 76
A+ A1 A+ A (high) 80
BB+ Baa2 BB+ BBB (low) 56
CCC+ Caa1 20
B B2 B 31
BBB- Ba1 BBB- 51
Caa2 15
BBB- Ba1 BBB- BBB (low) 51
AA- Aa3 AA- 83
AAA Aaa AAA AAA 100
BB- Ba3 BB- 40
B- Caa3 B- 20
B B2 B+ 30
B- Caa1 B- 25
AA- A1 AA- AA (low) 83
B- Caa1 CCC 25
AA Aaa AAA AAA 98
B+ B1 40
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AA (high) 92
N/A Caa1 B- 23
BB Ba2 BB 45
AAA Aaa AAA AAA 100
B- B3 B 22
BB Ba3 BB BB 40
SD
BB- Ba1 BB- 43
BB- B1 35
AA+ Aa3 AA- 90
BBB Baa3 BBB 58
A A2 A 75
BBB- Baa3 BBB- BBB (low) 56
BBB Baa2 BBB 60
B- Caa1 B- 23
AA- A2 A+ A (high) 78
N/A Aa3 90
AA- A1 A+ 81
BBB Baa3 BBB- BBB (high) 61
BB- Ba3 BB- 38
B+ B2 B+ 33
A+ A1 A A (high) 77
B+ B1 BB- 36
BBB- Baa2 BBB 56
B B2 B+ 33
A+ A1 AA 85
NR B2 30
Caa2 CCC 20
A+ A3 A- A (low) 73
D C RD 11
B 30
AAA 100
A+ A2 A A 76
AAA Aaa AAA AAA 100
Aa3 AA 87
BB- BB+ 45
A- A3 BBB+ 70
Caa1 CCC 22
Caa1 20
A- A2 A+ A (high) 75
Baa2 65
BBB Baa1 BBB- BBB 60
B3 25
B B3 B 28
B B1 35
BBB- 55
BB+ Ba1 BB+ 51
CCC+ Caa2 CCC 14
Ba3 BB 45
AAA Aaa AAA AAA 100
AA+ Aaa AA 93
B- B3 B- 25
B3
B- B2 B 28
AAA Aaa AAA AAA 99
B+ Ba3 BB- 40
B- B3 B- 25
BBB Baa2 BBB- 58
B- B2 27
BB Ba1 BB+ 46
BBB+ Baa1 BBB+ N/A 65
BBB+ Baa2 BBB 61
A- A2 A- A 71
BBB Baa2 BBB BBB (high) 71
D 0
AA- Aa3 AA- 85
CCC+ Caa2 CCC 20
BBB- Baa3 BBB- 55
BBB- Baa3 BBB 55
B+ B2 B+ 33
BB+ 55
A- A1 A 75
B+ Ba3 37
BB+ Ba2 BB+ 46
B 35
AAA Aaa AAA AAA 98
A+ A2 A A (high) 76
AA- A3 A A (high) 75
B3 25
BB- Ba2 BB- 45
AA Aa2 AA- 86
A Baa1 A- A 71
CCC+ Caa1 CCC 20
B3 25
SD Caa3 RD 15
B3 30
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA Aa3 AA 86
B- B3 25
B2 35
BBB+ Baa1 BBB+ 65
B B3 30
BBB- Ba1 52
N/A B3 B- 28
B+ B2 BB- BB (high) 35
B+
B B2 B+ 31
B B3 B 28
AA Aa2 AA- 90
AA Aa3 AA- AA (high) 90
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
BB- B1 BB- 38
N/A C RD 11
BB Ba3 BB 43
SD Ca RD 30
 Export  API


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
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