Rating agencies

The table contains rating evaluation of individual countries (sovereign rating). For rating evaluation of market subjects, e.g. banks, it is necessary to contact directly these institutions.

The methodology of conducting rating evaluation by individual agencies can be found on their web pages:


Rating evaluation of individual countries

(Foreign Currency Long-Term Sovereign Debt Ratings)

Last update: 8th October 2019

Investment grades
Aaa Germany, Netherlands, USA, Switzerland, Norway, Denmark, Sweden, New Zealand, Canada, Singapore, Australia, Luxembourg AAA Germany, Netherlands, Norway, Switzerland, Singapore, Denmark, Canada, Australia, Sweden, Lichtenstein, Luxembourg Germany, Netherlands, Norway, USA, Switzerland, Singapore, Denmark, Sweden, Canada, Luxembourg, Australia
Aa1 Austria, Finland AA+ Austria, Finland, Hong Kong, USA Austria, Finland
Aa2 France, Hong Kong, S. Korea, Kuwait, United Kingdom AA Belgium, France, S. Korea, Kuwait, New Zealand, United Kingdom Belgium, France, Hong Kong, Kuwait, New Zealand, S. Arabia, United Kingdom
Aa3 Belgium, Chile, CZECH REPUBLIC, Katar, Taiwan AA- CZECH REPUBLIC, Estonia, Israel, Qatar, Slovenia, Taiwan CZECH REPUBLIC, Estonia, S.  Korea
A1 China, Estonia, Israel, Japan, S. Arabia A+ Chile, China, Ireland, Japan, Slovakia China, Chile, Ireland, Israel, Malta, Slovakia, Taiwan
A2 Ireland, Malta, Poland, Slovakia A Iceland, Lithuania Iceland, Japan, Slovenia
A3 Iceland, Latvia, Lithuania, Malaysia, Mexico A- Latvia, Malaysia, Malta, Poland, S. Arabia, Spain Latvia, Lithuania, Malaysia, Poland, Spain
Baa1 Slovenia, Spain BBB+ Mexico  
Baa2 Bulgaria, India, Indonesia BBB Hungary, Italy, Portugal, Indonesia Bulgaria, Hungary, Indonesia, Italy, Kazakhstan, Mexico, Portugal, Russia
Baa3 Hungary, Italy, Kazakhstan, Portugal, Romania, Russia, S. Africa BBB- Bulgaria, Croatia, Cyprus, India, Kazakhstan, Romania, Russia Croatia, India, Romania
Non-investment grades
Ba1   BB+ S. Africa Cyprus, Northern Macedonia, Serbia, S. Africa
Ba2 Brazil, Croatia BB Serbia, Vietnam Brazil, Turkey, Vietnam
Ba3 Cyprus, Serbia, Vietnam BB- Brazil, Northern Macedonia Greece
B1 Albania, Greece, Montenegro, Turkey B+ Albania, Greece, Montenegro,Turkey Mongolia
B2   B Argentina, Belarus, Bosna, Egypt, Ukraine Belarus, Egypt, Ukraine
B3 Belarus, Bosnia, Egyp, Moldova, Pakistan B- Mongolia, Pakistan Pakistan
Caa1 Mongolia, Ukraine CCC+    
Caa2 Argentina, Cuba CCC   Argentina
Caa3   CCC-    
Ca   CC    
C   C    
SD   SD    
D   D    


Developmets of the rating of the CR

(Foreign Currency Long-Term Sovereign Debt Ratings)

Last update: 8th October

  Moody's Standard and Poor's Fitch
1992 Ba1
1993 Baa3 BBB
1994 Baa2 BBB+
1995 Baa1 A A-
1996 Baa1 A A-
1997 Baa1 A BBB+
1998 Baa1 A- BBB+
1999 Baa1 A- BBB+
2000 Baa1 A- BBB+
2001 Baa1 A- BBB+
2002 A1 A- BBB+
2003 A1 A- A-
2004 A1 A- A-
2005 A1 A- A
2006 A1 A- A
2007 A1 A A
2008 A1 A A+
2009 A1 A A+
2010 A1 A A+
2011 A1 AA- A+
2012 A1 AA- A+
2013 A1 AA- A+
2014 A1 AA- A+
2015 A1 AA- A+
2016 A1 AA- A+
2017 A1 AA- A+
2018 A1 AA- AA-
2019 Aa3 AA- AA-