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:

• www.moodys.com
• www.standardandpoors.com
• www.fitchratings.com
• www.scoperatings.com

Rating evaluation of individual countries

(Foreign Currency Long-Term Sovereign Debt Ratings)

Last update: 2 November 2026

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