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S&P: Sovereign Ratings List
CountryLong TermShort Term
Local CurrencyForeign CurrencyLocal CurrencyForeign Currency
United States [+]  AA+   AA+   A-1+   A-1+
United Kingdom [+]  AA   AA   A-1+   A-1+
Germany [+]  AAA   AAA   A-1+   A-1+
France [+]  AA   AA   A-1+   A-1+
Japan [+]  A+   A+   A-1   A-1
Spain [+]  BBB+   BBB+   A-2   A-2
Italy [+]  BBB-   BBB-   A-3   A-3
Portugal [+]  BB+   BB+   B   B
Greece [+]  B-   B-   B   B
Ireland [+]  A+   A+   A-1   A-1
Andorra [+]  BBB-   BBB-   A-3   A-3
United Arab Emirates [+]  AA   AA   A-1+   A-1+
Albania [+]  B+   B+   B   B
Angola [+]  B   B   B   B
Argentina [+]  B-   B-   B   B
Austria [+]  AA+   AA+   A-1+   A-1+
Australia [+]  AAA   AAA   A-1+   A-1+
Azerbaijan [+]  BB+   BB+   B   B
Bosnia and Herzegovina [+]  B   B   B   B
Barbados [+]  B-   B-   B   B
Bangladesh [+]  BB-   BB-   B   B
Belgium [+]  AA   AA   A-1+   A-1+
Burkina Faso [+]  B-   B-   B   B
Bulgaria [+]  BB+   BB+   B   B
Bahrain [+]  BB   BB   B   B
Benin [+]  NR   NR NRNR
Bolivia [+]  CCC   CCC   C   C
Brazil [+]  BB   BB   B   B
Bahamas [+]  BBB-   BBB-   A-3   A-3
Botswana [+]  A-   A-   A-2   A-2
Belarus [+]  B-   B-   B   B
Belize [+]  CC   CC   C   C
Canada [+]  AAA   AAA   A-1+   A-1+
Democratic Republic of the Congo [+]  B-   B-   B   B
Republic of the Congo [+]  B-   B-   B   B
Switzerland [+]  AAA   AAA   A-1+   A-1+
Chile [+]  AA-   AA   A-1+   A-1+
Cameroon [+]  B   B   B   B
China [+]  AA-   AA-   A-1+   A-1+
Colombia [+]  BBB   BBB+   A-2   A-2
Costa Rica [+]  BB-   BB-   B   B
Cape Verde [+]  B   B   B   B
Cyprus [+]  BB   BB   B   B
Czech Republic [+]  AA-   AA   A-1+   A-1+
Denmark [+]  AAA   AAA   A-1+   A-1+
Dominican Republic [+]  BB-   BB-   B   B
Ecuador [+]  B   B   B   B
Estonia [+]  AA-   AA-   A-1+   A-1+
Egypt [+]  B-   B-   B   B
Finland [+]  AA+   AA+   A-1+   A-1+
Fiji [+]  B+   B+   B   B
Gabon [+]  NR   NR NRNR
Grenada [+]  NR   NR NRNR
Georgia [+]  BB-   BB-   B   B
Ghana [+]  B-   B-   B   B
Guatemala [+]  BB   BB+   B   B
Hong Kong [+]  AAA   AAA   A-1+   A-1+
Honduras [+]  B+   B+   B   B
Croatia [+]  BB   BB   B   B
Hungary [+]  BBB-   BBB-   A-3   A-3
Indonesia [+]  BB+   BB+   B   B
Israel [+]  A+   A+   A-1   A-1
India [+]  BBB-   BBB-   A-3   A-3
Iceland [+]  BBB+   BBB+   A-2   A-2
Jamaica [+]  B   B   B   B
Jordan [+]  BB-   BB-   B   B
Kenya [+]  B+   B+   B   B
Cambodia [+]  B   B   B   B
South Korea [+]  AA   AA   A-1+   A-1+
Kuwait [+]  AA   AA   A-1+   A-1+
Kazakhstan [+]  BBB-   BBB-   A-3   A-3
Lebanon [+]  B-   B-   B   B
Liechtenstein [+]  AAA   AAA   A-1+   A-1+
Sri Lanka [+]  B+   B+   B   B
Lithuania [+]  A-   A-   A-2   A-2
Luxembourg [+]  AAA   AAA   A-1+   A-1+
Latvia [+]  A-   A-   A-2   A-2
Morocco [+]  BBB-   BBB-   A-3   A-3
Montenegro [+]  B+   B+   B   B
Republic of Macedonia [+]  BB-   BB-   B   B
Mongolia [+]  B-   B-   B   B
Malta [+]  A-   A-   A-2   A-2
Mexico [+]  BBB+   A   A-2   A-1
Malaysia [+]  A-   A   A-2   A-1
Mozambique [+]  CC   B-   C   B
Nigeria [+]  B   B   B   B
Netherlands [+]  AAA   AAA   A-1+   A-1+
Norway [+]  AAA   AAA   A-1+   A-1+
New Zealand [+]  AA   AA+   A-1+   A-1+
Oman [+]  BBB-   BBB-   A-3   A-3
Panama [+]  BBB   BBB   A-2   A-2
Peru [+]  BBB+   A-   A-2   A-2
Papua New Guinea [+]  B+   B+   B   B
Philippines [+]  BBB   BBB   A-2   A-2
Pakistan [+]  B   B   B   B
Poland [+]  BBB+   A-   A-2   A-2
Paraguay [+]  BB   BB   B   B
Qatar [+]  AA   AA   A-1+   A-1+
Romania [+]  BBB-   BBB-   A-3   A-3
Serbia [+]  BB-   BB-   B   B
Russia [+]  BB+   BBB-   B   A-3
Rwanda [+]  B   B   B   B
Saudi Arabia [+]  A-   A-   A-2   A-2
Sweden [+]  AAA   AAA   A-1+   A-1+
Singapore [+]  AAA   AAA   A-1+   A-1+
Slovenia [+]  A   A   A-1   A-1
Slovakia [+]  A+   A+   A-1   A-1
Senegal [+]  B+   B+   B   B
Suriname [+]  B+   B+   B   B
El Salvador [+]  B   B   B   B
Thailand [+]  BBB+   A-   A-2   A-2
Tunisia [+]  NR   NR NRNR
Turkey [+]  BB   BB+   B   B
Trinidad and Tobago [+]  A-   A-   A-2   A-2
Taiwan [+]  AA-   AA-   A-1+   A-1+
Ukraine [+]  B-   B-   B   B
Uganda [+]  B   B   B   B
Uruguay [+]  BBB   BBB   A-2   A-2
Venezuela [+]  B-   B-   B   B
South Africa [+]  BBB-   BBB   A-3   A-2
Zambia [+]  B   B   B   B
S&P: Sovereign Ratings
GradeS&P
PrimeAAA
High gradeAA+
AA
AA-
Upper medium gradeA+
A
A-
Lower medium gradeBBB+
BBB
BBB-
Non-investment grade
speculative
BB+
BB
BB-
Highly speculativeB+
B
B-
Substantial risksCCC+
CCC
CCC-
Extremely speculativeCC
In default with little
prospect for recovery
SD
In defaultD
Not ratedNR
GradeS&P
High gradeA-1+
Upper medium gradeA-1
Lower medium gradeA-2
Non-investment grade
speculative
A-3
Highly speculativeB
Extremely speculativeC