This article contains a list of countries by credit rating, showing long-term foreign currency credit ratings for government bonds as reported by the largest three major credit rating agencies: Standard & Poor's, Fitch, and Moody's. The list also includes all administrative divisions not issuing sovereign bonds, but it excludes regions, provinces and municipalities issuing sub-sovereign bonds.
Standard & Poor's
For S&P, a bond is considered investment grade if its credit rating is BBB− or higher. Bonds rated BB+ and below are considered to be speculative grade, sometimes also referred to as "junk" bonds. An SD rating indicates that the country has selectively defaulted on some outstanding obligations.
Country/Territory Rating Outlook Date Stable 21 March 2025 Stable 10 May 2024 Stable 4 February 2022 Stable 10 June 2026 Stable 25 August 2023 Stable 24 March 2025 Stable 16 February 2003 Stable 13 January 2012 Positive 29 January 2016 Stable 26 September 2025 Stable 21 November 2025 Stable 30 July 2024 Stable 24 October 2025 Negative 25 April 2025 Stable 9 November 2021 Stable 19 April 2024 Stable 28 April 2015 Stable 23 March 2026 Stable 4 August 2023 Negative 12 September 2025 Stable 19 December 2023 Stable 10 July 2025 Stable 26 January 2022 Positive 16 August 2024 Stable 22 March 2024 Stable 29 July 2002 Stable 28 October 2024 Stable 24 March 2021 Stable 21 September 2017 Negative 26 June 2025 Positive 11 November 2020 Stable 22 October 2025 Stable 18 October 2024 Stable 14 March 2026 Stable 22 February 2022 Positive 20 March 2026 Stable 28 March 2025 Stable 28 January 2022 Stable 6 February 2026 Stable 19 December 2022 Stable 1 September 2020 Stable 10 October 2025 Stable 7 November 2023 Stable 31 May 2024 15 December 2023 Stable 22 September 2021 Stable 22 September 2021 Stable 10 October 2014 Stable 17 October 2025 Stable 11 October 2019 Stable 17 August 1983 Stable 7 November 2025 Stable Stable 23 May 2025 Stable 13 January 2023 Stable 18 September 2025 Negative 19 July 2017 Stable 22 September 2017 Negative 11 April 2025 Positive 6 March 2026 Stable 14 August 2025 Stable 31 May 2019 Stable 3 September 2015 Stable 20 March 2026 Stable 1 October 2024 Stable 11 April 2025 Stable 25 September 2025 Stable 16 September 2015 Stable 16 January 2021 Stable 6 September 2024 Positive 21 August 2026 Stable 22 August 2025 Stable 21 November 2025 Stable 28 March 2025 Positive 23 October 2025 Stable 31 May 2024 11 March 2020 Stable 2 December 1996 Stable 31 May 2024 Stable 28 April 1994 Negative 11 April 2022 Stable 19 September 2025 Stable 14 October 2016 Stable 21 July 2023 Stable 26 March 2020 Stable 10 October 2025 Stable 30 October 2025 Stable 30 August 2024 Stable 2 September 2011 Stable 26 September 2025 Negative 22 November 2019 Stable 20 November 2015 Stable 21 February 2021 Stable 23 October 2024 Positive 26 March 2020 Stable 24 May 2013 Stable 9 July 1975 Stable 27 September 2024 Stable 24 July 2025 Stable 26 November 2024 Stable 29 April 2020 Stable 17 December 2025 Stable 25 April 2024 Positive 30 April 2019 Stable 12 October 2018 Stable 29 August 2025 Stable 4 November 2022 Stable 30 October 2024 Negative 16 May 2014 Stable 9 August 2019 Stable 31 March 2023 Stable 1 August 2025 Stable 14 March 2025 14 November 2025 Stable 4 October 2024 Stable 6 March 1995 Negative 24 April 2026 Stable 6 June 2025 Positive 14 November 2025 Stable 8 August 2016 Stable 12 September 2025 Stable 19 September 2025 Stable 6 December 2023 Stable 16 February 2004 Stable 1 October 1988 Stable 29 April 2022 Stable 16 August 2024 Stable 26 August 2004 Stable 18 April 2025 Negative 26 March 2020 Stable 1 November 2024 Stable 26 February 2025 Positive 6 October 2023 Stable 22 January 2026 Stable 2 July 2007 Stable 27 June 2016 Stable 5 August 2011 Stable 26 April 2023 Stable 22 May 2026 https://www.spglobal.com/ratings/en/regulatory/article/-/view/sourceId/101685680 Stable 26 May 2022 Stable 21 November 2025
Fitch
For Fitch, a bond is considered investment grade if its credit rating is BBB− or higher. Bonds rated BB+ and below are considered to be speculative grade, sometimes also referred to as "junk" bonds. Fitch Ratings typically does not assign outlooks to sovereign ratings below B− (CCC and lower) or modifiers. CCC indicates 'Substantial Credit Risk' where 'default is a real possibility'. CC indicates 'Very High Levels of Credit Risk' where 'default of some kind appears probable'.
Country/Territory Rating Outlook Date Stable 18 September 2026 Stable 8 May 2026 Stable 5 May 2026 Positive 10 July 2026 Positive 3 March 2026 Stable 27 October 2025 Stable 5 December 2025 Stable 13 June 2025 Stable 9 April 2025 Stable 23 February 2026 Stable 22 May 2025 Positive 9 October 2025 Ratings withdrawn 6 October 2023 Stable 13 June 2025 Positive 16 January 2026 16 January 2026 Stable 25 June 2025 Stable 10 July 2025 Stable 13 May 2025 Negative 7 November 2025 Stable 18 July 2025 Stable 26 September 2025 Stable 3 April 2025 Stable 16 December 2025 Positive 17 December 2025 Stable 12 December 2025 Stable 6 March 2026 Positive 21 November 2025 Stable 6 February 2026 Stable 3 October 2025 Positive 7 November 2025 Stable 25 February 2026 Stable 10 October 2025 Stable 30 April 2025 Stable 6 June 2025 17 October 2025 Stable 30 January 2026 Stable 25 July 2025 Stable 6 March 2026 19 December 2025 Stable 21 November 2025 Stable 11 July 2025 Stable 16 June 2025 Stable 14 November 2025 Stable 14 October 2025 Stable 23 May 2025 Negative 5 December 2025 Ratings withdrawn 6 February 2026 Stable 25 August 2025 Negative 4 March 2026 Stable 24 November 2025 Stable 7 November 2025 Negative 31 March 2025 Stable 19 September 2025 Stable 5 February 2026 Stable 19 January 2026 Stable 7 May 2025 Stable 15 July 2025 Stable 23 January 2026 Stable 6 January 2026 Stable 5 September 2025 Stable 24 April 2025 21 October 2025 Stable 7 November 2025 Ratings withdrawn 23 July 2023 Stable 9 June 2025 Stable 24 October 2025 Stable 31 October 2025 Stable 11 February 2026 Stable 8 December 2025 12 June 2025 Stable 5 September 2025 Stable 16 April 2025 Stable 27 February 2026 Stable 1 September 2025 Stable 17 September 2026 30 January 2025 Stable 21 November 2025 Stable 18 November 2025 Stable 16 January 2026 Stable 17 August 2025 Stable 23 May 2025 Stable 10 October 2025 Stable 19 September 2025 Stable 13 March 1995 Stable 8 December 2025 Stable 15 April 2025 Stable 28 March 2024 Positive 6 October 2025 Stable 20 October 2022 Stable 22 May 2023 Negative 5 September 2025 Stable 12 September 2025 Stable 20 March 2024 Stable 23 May 2023 16 September 2022 Negative 17 December 2024 Ratings withdrawn 25 March 2022 Negative 4 April 2025 Positive 12 December 2025 Stable 5 April 2023 Positive 9 August 2024 Stable 5 September 2025 Stable 14 May 2003 Stable 6 December 2024 Stable 3 October 2025 Stable 15 December 2021 Stable 6 September 2012 Stable 26 September 2025 Stable 22 September 2026 Ratings withdrawn 25 January 2022 Stable 8 March 2004 Stable 10 August 1994 Stable 10 September 2021 Stable 9 June 2023 Negative 24 September 2025 Stable 12 September 2025 Stable 6 September 2024 Stable 2 August 2024 Stable 30 August 2024 22 December 2025 Stable 11 November 2020 Stable 22 March 2024 Stable 1 August 2023 Stable 7 June 2023 Positive 3 June 2026 https://www.fitchratings.com/entity/uzbekistan-republic-of-88305892 Stable 8 December 2023 Stable 28 November 2025
Moody's
For Moody's, a bond is considered investment grade if its credit rating is Baa3 or higher. Bonds rated Ba1 and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country/Territory Rating Outlook Date Positive 24 October 2023 Stable 19 October 2024 Positive 21 July 2026 Stable 22 June 2023 Stable 28 June 2022 Stable 24 February 2023 Stable 5 August 2022 Stable 6 October 2022 Stable 22 April 2022 Stable 16 Sep 2026 Stable 3 August 2023 Stable 2 June 2023 Stable 28 April 2023 Stable 16 November 2022 Stable 18 September 2023 Stable 21 June 2022 Negative 30 June 2023 Stable 22 July 2022 Stable 27 October 2023 Positive 7 October 2024 Stable 3 February 2023 Negative 15 November 2022 Stable 27 July 2023 Stable 3 November 2022 Stable 8 June 2023 Stable 15 September 2022 Stable 27 April 2026 Stable 8 June 2023 Stable 3 November 2023 Positive 18 September 2024 Positive 27 June 2022 Stable 7 November 2024 WD Ratings withdrawn 18 November 2021 Stable 22 November 2024 Stable 24 November 2023 Stable 11 February 2022 Positive 10 August 2023 Stable 11 November 2022 Stable 27 February 2023 Negative Stable 26 November 2024 Stable 29 April 2022 Positive 1 December 2023 Stable 15 September 2023 Stable 7 October 2022 Stable 29 July 2022 Stable 14 December 2024 Negative 12 September 2023 Negative 28 April 2022 Stable 10 February 2023 Stable 9 June 2023 Positive 18 September 2026 Stable 15 June 2022 Stable 3 October 2023 Negative 6 December 2023 Negative 30 December 2025 Stable 19 September 2024 Stable 18 August 2023 Negative 5 February 2026 Stable 24 November 2023 Stable 21 April 2023 Stable 27 October 2023 Negative 27 September 2024 Stable 21 November 2025 Positive 18 October 2023 Stable 8 November 2023 Positive 17 November 2022 Positive 9 September 2024 Negative 28 July 2023 Stable 26 May 2022 Negative 17 October 2022 Stable 29 April 2022 Stable 13 December 2023 Stable 29 April 2022 Stable 17 March 2023 Negative 6 December 2022 Stable 14 April 2023 Stable 11 September 2024 Stable 9 September 2022 Stable 18 November 2022 Stable 28 July 2022 Stable 8 July 2022 Stable 3 April 2026 Stable 14 February 2023 Stable 27 September 2024 Positive 6 March 2026 Stable 22 September 2023 Stable 5 April 2022 Stable 27 January 2023 Stable 21 April 2022 Stable 30 March 2022 Positive 8 December 2023 Stable 6 May 2022 Stable 7 December 2023 Positive 13 August 2025 Stable 31 October 2023 Stable 10 November 2022 Stable 26 July 2024 Negative 31 January 2023 Stable 15 September 2022 Stable 29 April 2022 Stable 17 November 2023 Positive 2 November 2022 Stable 3 November 2023 WD Ratings withdrawn 6 March 2022 Stable 8 September 2023 Stable 1 March 2022 Stable 22 November 2024 Stable 18 March 2022 Stable 8 September 2023 Stable 17 May 2022 Stable 13 December 2024 Stable 27 February 2026 Stable 1 April 2022 Stable 21 April 2022 Positive 27 September 2025 Positive 23 December 2024 Stable 17 February 2023 Stable 25 March 2022 Stable 17 February 2023 Stable 22 September 2022 Stable 12 October 2023 Stable 7 April 2022 Positive 10 July 2023 Stable 28 February 2025 Positive 19 July 2024 Negative 18 November 2022 Stable 10 February 2023 Stable 21 March 2023 Stable 20 October 2023 Stable 16 May 2025 Stable 15 March 2024 Stable 25 June 2026 https://kun.uz/en/news/2026/06/25/moodys-upgrades-uzbekistans-credit-rating-to-ba2-citing-structural-economic-reforms-6ea43c Ratings withdrawn 9 March 2018 Stable 6 September 2022 Stable 21 October 2022
Others DBRS Morningstar
For DBRS Morningstar, a bond is considered investment grade if its credit rating is BBB(low) or higher. Bonds rated BB(high) and below are considered to be speculative grade, sometimes also referred to as "junk" bonds.
Country Rating Outlook Date Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Positive Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Stable Negative Stable Stable Stable
Scope Ratings