S&P: Sovereign Ratings List
| Country | Long term | Short term | ||
|---|---|---|---|---|
| Foreign currency | Local currency | Foreign currency | Local 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 [+] | A | A | A-1 | A-1 |
| Italy [+] | BBB | BBB | A-2 | A-2 |
| Portugal [+] | A- | A- | A-2 | A-2 |
| Greece [+] | BBB- | BBB- | A-3 | A-3 |
| Ireland [+] | AA | AA | A-1+ | A-1+ |
| Andorra [+] | BBB+ | BBB+ | A-2 | A-2 |
| United Arab Emirates [+] | AA | AA | A-1+ | A-1+ |
| Albania [+] | BB- | BB- | B | B |
| Armenia [+] | BB- | BB- | B | B |
| Angola [+] | B- | B- | B | B |
| Argentina [+] | CCC | CCC | C | C |
| 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 [+] | CCC+ | CCC+ | C | C |
| Bulgaria [+] | BBB | BBB | A-2 | A-2 |
| Bahrain [+] | B+ | B+ | B | B |
| Benin [+] | NR | NR | NR | NR |
| Bolivia [+] | CCC+ | CCC+ | C | C |
| Brazil [+] | BB | BB | B | B |
| Bahamas [+] | B+ | B+ | B | B |
| Botswana [+] | BBB+ | BBB+ | A-2 | A-2 |
| Belarus [+] | NR | NR | NR | NR |
| Belize [+] | B- | B- | B | B |
| 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+ |
| Côte d'Ivoire [+] | BB- | BB- | B | B |
| Chile [+] | A | A+ | A-1 | A-1 |
| Cameroon [+] | B- | B- | B | B |
| China [+] | A+ | A+ | A-1 | A-1 |
| Colombia [+] | BB+ | BBB- | B | A-3 |
| Costa Rica [+] | BB- | BB- | B | B |
| Cabo Verde [+] | B- | B- | B | B |
| Cyprus [+] | BBB | BBB | A-2 | A-2 |
| Czechia [+] | 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 | NR | NR |
| Grenada [+] | NR | NR | NR | NR |
| Georgia [+] | BB | BB | B | B |
| Ghana [+] | SD | CCC+ | SD | C |
| Guatemala [+] | BB | BB | B | B |
| Hong Kong [+] | AA+ | AA+ | A-1+ | A-1+ |
| Honduras [+] | BB- | BB- | B | B |
| Croatia [+] | BBB+ | BBB+ | A-2 | A-2 |
| Hungary [+] | BBB- | BBB- | A-3 | A-3 |
| Indonesia [+] | BBB | BBB | A-2 | A-2 |
| Israel [+] | A+ | A+ | A-1 | A-1 |
| India [+] | BBB- | BBB- | A-3 | A-3 |
| Iceland [+] | A+ | A+ | A-1 | A-1 |
| Jamaica [+] | BB- | BB- | B | B |
| Jordan [+] | B+ | B+ | B | B |
| Kenya [+] | B | B | B | B |
| Cambodia [+] | B | B | B | B |
| South Korea [+] | AA | AA | A-1+ | A-1+ |
| Kuwait [+] | A+ | A+ | A-1 | A-1 |
| Kazakhstan [+] | BBB- | BBB- | A-3 | A-3 |
| Lebanon [+] | SD | CC | SD | C |
| Liechtenstein [+] | AAA | AAA | A-1+ | A-1+ |
| Sri Lanka [+] | SD | CCC+ | SD | C |
| Lithuania [+] | A+ | A+ | A-1 | A-1 |
| Luxembourg [+] | AAA | AAA | A-1+ | A-1+ |
| Latvia [+] | A+ | A+ | A-1 | A-1 |
| Morocco [+] | BB+ | BB+ | B | B |
| Montenegro [+] | B | B | B | B |
| North Macedonia [+] | BB- | BB- | B | B |
| Mongolia [+] | B | B | B | B |
| Malta [+] | A- | A- | A-2 | A-2 |
| Mauritius [+] | BBB- | BBB- | A-3 | A-3 |
| Mexico [+] | BBB | BBB+ | A-2 | A-2 |
| Malaysia [+] | A- | A | A-2 | A-1 |
| Mozambique [+] | CCC+ | CCC+ | C | C |
| Nigeria [+] | B- | B- | B | B |
| Nicaragua [+] | B | B | ||
| Netherlands [+] | AAA | AAA | A-1+ | A-1+ |
| Norway [+] | AAA | AAA | A-1+ | A-1+ |
| New Zealand [+] | AA+ | AAA | A-1+ | A-1+ |
| Oman [+] | BB+ | BB+ | B | B |
| Panama [+] | BBB | BBB | A-2 | A-2 |
| Peru [+] | BBB | BBB+ | A-2 | A-2 |
| Papua New Guinea [+] | B- | B- | B | B |
| Philippines [+] | BBB+ | BBB+ | A-2 | A-2 |
| Pakistan [+] | CCC+ | CCC+ | C | C |
| Poland [+] | A- | A | A-2 | A-1 |
| 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 [+] | CC | CC | C | C |
| Rwanda [+] | B+ | B+ | B | B |
| Saudi Arabia [+] | A | A | A-1 | A-1 |
| Sweden [+] | AAA | AAA | A-1+ | A-1+ |
| Singapore [+] | AAA | AAA | A-1+ | A-1+ |
| Slovenia [+] | AA- | AA- | A-1+ | A-1+ |
| Slovakia [+] | A+ | A+ | A-1 | A-1 |
| Senegal [+] | B+ | B+ | B | B |
| Suriname [+] | CCC+ | CCC+ | C | C |
| El Salvador [+] | B- | B- | B | B |
| Thailand [+] | BBB+ | A- | A-2 | A-2 |
| Tunisia [+] | NR | NR | NR | NR |
| Türkiye [+] | B | B | B | B |
| Trinidad and Tobago [+] | BBB- | BBB- | A-3 | A-3 |
| Taiwan [+] | AA+ | AA+ | A-1+ | A-1+ |
| Ukraine [+] | CC | CCC+ | C | C |
| Uganda [+] | B- | B- | B | B |
| Uruguay [+] | BBB+ | BBB+ | A-2 | A-2 |
| Uzbekistan [+] | BB- | BB- | ||
| Venezuela [+] | B- | B- | B | B |
| South Africa [+] | BB- | BB | B | B |
| Zambia [+] | SD | CCC+ | SD | C |
S&P: Sovereign Ratings
| Grade | S&P |
|---|---|
| Prime | AAA |
| High grade | AA+ |
| AA | |
| AA- | |
| Upper medium grade | A+ |
| A | |
| A- | |
| Lower medium grade | BBB+ |
| BBB | |
| BBB- | |
| Non-investment grade speculative | BB+ |
| BB | |
| BB- | |
| Highly speculative | B+ |
| B | |
| B- | |
| Substantial risks | CCC+ |
| CCC | |
| CCC- | |
| Extremely speculative | CC |
| In default with little prospect for recovery | SD |
| In default | D |
| Not rated | NR |
| Grade | S&P |
|---|---|
| High grade | A-1+ |
| Upper medium grade | A-1 |
| Lower medium grade | A-2 |
| Non-investment grade speculative | A-3 |
| Highly speculative | B |
| Extremely speculative | C |