Standards and Poors

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S&P: Sovereign Ratings List
Long TermShort Term
Local CurrencyForeign CurrencyLocal CurrencyForeign Currency
United States [+]
 
AA+
 
AA+
 
A-1+
United Kingdom [+]
 
AAA
 
AAA
 
A-1+
Germany [+]
 
AAA
 
AAA
 
A-1+
France [+]
 
AA+
 
AA+
 
A-1+
Japan [+]
 
AA-
 
AA-
 
A-1+
Spain [+]
 
BBB-
 
BBB-
 
A-3
Italy [+]
 
BBB+
 
BBB+
 
A-2
Portugal [+]
 
BB
 
BB
 
B
Greece [+]
 
B-
 
B-
 
B
Ireland [+]
 
BBB+
 
BBB+
 
A-2
United Arab Emirates [+]
 
AA
 
AA
 
A-1+
Albania [+]
 
B+
 
B+
 
B
Angola [+]
 
BB-
 
BB-
 
B
Argentina [+]
 
B-
raA
 
B
Austria [+]
 
AA+
 
AA+
 
A-1+
Australia [+]
 
AAA
 
AAA
 
A-1+
Azerbaijan [+]
 
BBB-
 
BBB-
 
A-3
Bosnia and Herzegovina [+]
 
B
 
B
 
B
Bangladesh [+]
 
BB-
 
BB-
 
B
Belgium [+]
 
AA
 
AA
 
A-1+
Burkina Faso [+]
 
B
 
BBB-
 
B
Bulgaria [+]
 
BBB
 
BBB
 
A-2
Bahrain [+]
 
BBB
 
BBB
 
A-2
Benin [+]
 
B
 
B
 
B
Bolivia [+]
 
BB-
 
BB-
 
B
Brazil [+]
 
BBB
 
A-
 
A-2
Botswana [+]
 
A-
 
A-
 
A-2
Belarus [+]
 
B-
 
B-
 
B
Belize [+]
 
B-
 
B-
 
B
Canada [+]
 
AAA
 
AAA
 
A-1+
Switzerland [+]
 
AAA
 
AAA
 
A-1+
Chile [+]
 
AA-
 
AA+
 
A-1+
Cameroon [+]
 
B
 
B
 
B
China [+]
 
AA-
cnAAA
 
A-1+
Colombia [+]
 
BBB
 
BBB+
 
A-2
Costa Rica [+]
 
BB
 
BB
 
B
Cyprus [+]
 
CCC
 
CCC
 
C
Czech Republic [+]
 
AA-
 
AA
 
A-1+
Denmark [+]
 
AAA
 
AAA
 
A-1+
Dominican Republic [+]
 
B+
 
B+
 
B
Ecuador [+]
 
B
 
B
 
B
Estonia [+]
 
AA-
 
AA-
 
A-1+
Egypt [+]
 
CCC+
 
CCC+
 
C
Finland [+]
 
AAA
 
AAA
 
A-1+
Gabon [+]
 
BB-
 
BB-
 
B
Georgia [+]
 
BB-
 
BB-
 
B
Ghana [+]
 
B
 
B
 
B
Guatemala [+]
 
BB
 
BB+
 
B
Hong Kong [+]
 
AAA
cnAAA
 
A-1+
Honduras [+]
 
B+
 
B+
 
B
Croatia [+]
 
BB+
 
BB+
 
B
Hungary [+]
 
BB
 
BB
 
B
Indonesia [+]
 
BB+
 
BBB-
 
B
Israel [+]
 
A+
 
A+
 
A-1
India [+]
 
BBB-
 
BBB-
 
A-3
Iceland [+]
 
BBB-
 
BBB-
 
A-3
Jordan [+]
 
BB
 
BB
 
B
Kenya [+]
 
B+
 
B+
 
B
Cambodia [+]
 
B
 
B
 
B
South Korea [+]
 
A+
 
AA-
 
A-1
Kuwait [+]
 
AA
 
AA
 
A-1+
Kazakhstan [+]
 
BBB+
 
BBB+
 
A-2
Lebanon [+]
 
B
 
B
 
B
Sri Lanka [+]
 
B+
 
B+
 
A-1
Lithuania [+]
 
BBB
 
BBB
 
A-2
Luxembourg [+]
 
AAA
 
AAA
 
A-1+
Latvia [+]
 
BBB
 
BBB
 
A-2
Morocco [+]
 
BBB-
 
BBB
 
A-3
Montenegro [+]
 
BB-
 
BB-
 
B
Republic of Macedonia [+]
 
BB
 
BB
 
B
Mongolia [+]
 
BB-
 
BB
 
B
Malta [+]
 
BBB+
 
BBB+
 
A-2
Mexico [+]
 
BBB
 
A-
 
A-2
Malaysia [+]
 
A-
axAAA
 
A-2
Nigeria [+]
 
BB-
ngAA-
 
B
Netherlands [+]
 
AAA
 
AAA
 
A-1+
Norway [+]
 
AAA
 
AAA
 
A-1+
New Zealand [+]
 
AA
 
AA+
 
A-1+
Oman [+]
 
A
 
A
 
A-1
Panama [+]
 
BBB
 
BBB
 
A-2
Peru [+]
 
BBB
 
A-
 
A-2
Papua New Guinea [+]
 
B+
 
B+
 
B
Philippines [+]
 
BBB-
axA-
 
A-3
Pakistan [+]
 
B-
 
B-
 
B
Poland [+]
 
A-
 
A
 
A-2
Paraguay [+]
 
BB-
 
BB-
 
B
Qatar [+]
 
AA
 
AA
 
A-1+
Romania [+]
 
BB+
 
BB+
 
B
Serbia [+]
 
BB-
 
BB-
 
B
Russia [+]
 
BBB
 
BBB+
 
A-2
Saudi Arabia [+]
 
AA-
 
AA-
 
A-1+
Sweden [+]
 
AAA
 
AAA
 
A-1+
Singapore [+]
 
AAA
axAAA
 
A-1+
Slovenia [+]
 
A-
 
A-
 
A-2
Slovakia [+]
 
A
 
A
 
A-1
Senegal [+]
 
B+
 
BBB-
 
B
El Salvador [+]
 
BB-
 
BB-
 
B
Thailand [+]
 
BBB+
axAA
 
A-2
Tunisia [+]
 
BB-
 
BB-
 
B
Turkey [+]
 
BB+
trAAA
 
B
Taiwan [+]
 
AA-
cnAAA
 
A-1+
Ukraine [+]
 
B
uaA-
 
B
Uganda [+]
 
B+
 
BB-
 
B
Uruguay [+]
 
BBB-
 
BBB-
 
A-3
Venezuela [+]
 
B+
 
B+
 
B
South Africa [+]
 
BBB
 
A-
 
A-2
Zambia [+]
 
B+
 
B+
 
B

Grade S&P Long Term S&P Short Term
Prime AAA A-1+
High grade AA+
AA
AA-
Upper medium grade A+ A-1-
A
A- A-2-
Lower medium grade BBB+
BBB A-3-
BBB-
Non-investment grade
speculative
BB+ B
BB
BB-
Highly speculative B+
B
B-
Substantial risks CCC+ C
Extremely speculative CCC
In default with little
prospect for recovery
CCC-
CC
C
In default D