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United States – Credit Rating





























Fitch Ratings changed on Friday 31 July 2020 the United States’ sovereign rating outlook to negative from stable and affirmed the debt grade at AAA, citing as main trigger behind the revision the ongoing deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan, issues that were highlighted in the agency’s last rating review on March 26, 2020. Standard & Poor’s credit rating for the United States stands at AA+ with stable outlook. Moody’s credit rating for the United States was last set at Aaa with stable outlook. DBRS’s credit rating for the United States is AAA with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of the United States thus having a big impact on the country’s borrowing costs. This page includes the government debt credit rating for the United States as reported by major credit rating agencies.

Agency Rating Outlook Date
Fitch AAA
Negative
Jul 31 2020
DBRS AAA
Stable
Apr 22 2014
Fitch AAA
Stable
Mar 21 2014
Fitch AAA
Negative Watch
Oct 15 2013
DBRS AAA
Under Review
Oct 09 2013
Moody’s Aaa
Stable
Jul 18 2013
S&P AA+
Stable
Jun 10 2013
Fitch AAA
Negative
Nov 28 2011
DBRS AAA
Stable
Sep 08 2011
S&P AA+
Negative
Aug 05 2011
Moody’s Aaa
Negative
Aug 02 2011
S&P AAA
Negative Watch
Jul 14 2011
Moody’s Aaa
Negative Watch
Jul 13 2011
S&P AAA
Negative
Apr 18 2011
Fitch AAA
Stable
Sep 21 2000
Fitch AAA
N/A
Apr 01 1996
Fitch AAA
Negative Watch
Nov 13 1995
Fitch AAA
N/A
Aug 10 1994
Moody’s Aaa
Stable
Feb 05 1949

S&P Moody’s Fitch DBRS TE



Albania



B+



B1












35



Andorra



BBB







BBB+








62



Angola



CCC+



Caa1



CCC








21



Argentina



CCC+



Ca



CCC




CCC



15



Armenia







Ba3



B+








16



Aruba



BBB+








BB









55



Australia



AAA




Aaa



AAA





AAA



100



Austria



AA+



Aa1



AA+




AAA



96



Azerbaijan



BB+




Ba2



BB+









48



Bahamas



BB-




Ba2













45



Bahrain



B+



B2



B+








35



Bangladesh



BB-



Ba3



BB-








40



Barbados



B-



Caa1












22



Belarus



B




B3



B









28



Belgium



AA



Aa3



AA-





AA (high)




86



Belize



CCC+



Caa1













14



Benin



B+



B2




B








31



Bermuda



A+



A2



N/A








78



Bolivia



B+



B2



B








33



Bosnia and Herzegovina



B



B3












27



Botswana



BBB+




A2













70



Brazil



BB-



Ba2



BB-





BB (low)



42



Bulgaria



BBB



Baa1



BBB








60



Burkina Faso



B
















25



Cambodia



N/A



B2












30



Cameroon



B-



B2



B









28



Canada



AAA



Aaa



AA+




AAA



100



Cape Verde



B








B-








27



Cayman Islands







Aa3












85



Chile



A+




A1




A-




N/A



78



China



A+



A1



A+




A (high)



80



Colombia



BBB-




Baa2



BBB-





BBB




57



Congo



CCC+



Caa1












20



Costa Rica



B




B2




B









31



Croatia



BBB-



Ba1



BBB-








51



Cuba







Caa2












15



Cyprus



BBB-



Ba2




BBB-




BBB (low)



50



Czech Republic



AA-



Aa3



AA-








83



Denmark



AAA



Aaa



AAA




AAA



100



Dominican Republic



BB-




Ba3



BB-









40



Ecuador



B-



Caa3




B-








18



Egypt



B



B2



B+








30



El Salvador



B-



B3



B-









25



Estonia



AA-



A1



AA-




AA (low)



83



Ethiopia



B




B2




B









30



European Union



AA



Aaa



AAA




AAA



98



Fiji



BB-




Ba3













40



Finland



AA+



Aa1



AA+




AA (high)



96



France



AA



Aa2



AA





AA (high)



92



Gabon



N/A



Caa1




CCC








26



Georgia



BB



Ba2



BB









45



Germany



AAA



Aaa



AAA




AAA



100



Ghana



B-



B3




B








23



Greece



BB-



Ba3



BB




BB (low)



37



Grenada



SD



















Guatemala



BB-




Ba1




BB-









43



Honduras



BB-



B1












35



Hong Kong



AA+



Aa3



AA-








90



Hungary



BBB



Baa3




BBB








58



Iceland



A



A2



A









75



India



BBB-



Baa3




BBB-





BBB




56



Indonesia



BBB




Baa2



BBB








60



Iraq



B-



Caa1



B-









23



Ireland



AA-



A2



A+




A (high)



78



Isle of Man



N/A



Aa3












90



Israel



AA-



A1



A+








81



Italy



BBB



Baa3



BBB-




BBB (high)




61



Ivory Coast







Ba3



B+









37



Jamaica



B+




B2



B+








33



Japan



A+



A1



A





A (high)



77



Jordan



B+



B1



BB-









36



Kazakhstan



BBB-



Baa3




BBB








56



Kenya



B+




B2




B+









33



Kuwait



AA-




A1



AA








88



Kyrgyzstan



NR



B2












30



Laos







Caa2




CCC








20



Latvia



A+



A3



A-




A (low)



73



Lebanon



D



C



RD








11



Lesotho











B









30



Liechtenstein



AAA
















100



Lithuania



A+



A3




A




A



75



Luxembourg



AAA



Aaa



AAA




AAA



100



Macau







Aa3



AA









87



Macedonia



BB-







BB+









45



Malaysia



A-




A3



A-









70



Maldives







B3




CCC








27



Mali







Caa1













25



Malta



A-



A2



A+




A (high)



75



Mauritius







Baa1













65



Mexico



BBB




Baa1




BBB-




BBB




60



Moldova







B3












25



Mongolia



B



B3




B








28



Montenegro



B+




B1












35



Montserrat



BBB-
















55



Morocco



BBB-




Ba1



BB+








53



Mozambique



CCC+



Caa2



CCC








14



Namibia







Ba2




BB









45



Netherlands



AAA



Aaa



AAA




AAA



100



New Zealand



AA




Aaa



AA









93



Nicaragua



B-



B3



B-









25



Niger







B3














Nigeria



B-



B2




B








28



Norway



AAA



Aaa



AAA




AAA



99



Oman



B+



Ba3




BB-









40



Pakistan



B-



B3



B-








25



Panama



BBB+




Baa1




BBB









63



Papua New Guinea



B-



B2












30



Paraguay



BB



Ba1



BB+








46



Peru



BBB+



A3



BBB+




N/A



65



Philippines



BBB+



Baa2



BBB








61



Poland



A-



A2



A-




A



71



Portugal



BBB



Baa3




BBB




BBB (high)



71



Puerto Rico



D

















0



Qatar



AA-



Aa3



AA-








85



Republic of the Congo



CCC+



Caa2



CCC








20



Romania



BBB-




Baa3




BBB-









55



Russia



BBB-



Baa3



BBB








55



Rwanda



B+




B2




B+








33



San Marino











BB+









55



Saudi Arabia



A-



A1




A









75



Senegal



B+



Ba3













37



Serbia



BB+



Ba3




BB+








46



Seychelles











B+








45



Singapore



AAA



Aaa



AAA




AAA



98



Slovakia



A+




A2



A





A (high)



76



Slovenia



AA-



A3



A




A (high)



75



Solomon Islands







B3












25



South Africa



BB-



Ba2




BB-









45



South Korea



AA



Aa2



AA-








86



Spain



A




Baa1



A-




A



71



Sri Lanka



B-



Caa1



B-









26



St Vincent and the Grenadines







B3












25



Suriname



SD



Caa3




C








15



Swaziland







B3












30



Sweden



AAA



Aaa



AAA




AAA



99



Switzerland



AAA



Aaa



AAA




AAA



100



Taiwan



AA-



Aa3



AA-








83



Tajikistan



B-



B3













25



Tanzania







B2












35



Thailand



BBB+



Baa1



BBB+








65



Togo



B



B3












30



Trinidad and Tobago



BBB-



Ba1













52



Tunisia



N/A



B2




B








30



Turkey



B+



B2




BB-





BB (high)




36



Uganda



B



B2



B+









31



Ukraine



B



B3



B








26



United Arab Emirates



AA



Aa2



AA-








90



United Kingdom



AA



Aa3



AA-





AA (high)



90



United States



AA+



Aaa



AAA





AAA



98



Uruguay



BBB



Baa2



BBB-





BBB (low)



55



Uzbekistan



BB-




B1



BB-








38



Venezuela



SD



WR



RD








11



Vietnam



BB



Ba3




BB








43



Zambia



SD



Ca



RD








30


Export
API

Credit Ratings

TE S&P Moody’s Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade

speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little

prospect for recovery
CC Ca CC
5 C C C
0 D / DDD In default
/ DD D
D


Standard & Poor, Moody’s, Fitch and DBRS’ sovereign debt credit rating is displayed above.
In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default).
Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries.
Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating.
Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion.
If you have any question please email us at contact@tradingeconomics.com
























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