Albania

B

positive

B1

stable

Andorra

BBB+

stable

Angola

BB-

stable

Ba2

stable

BB-

stable

Argentina

SD

nm

Caa1

negative

RD

Armenia

Ba2

stable

BB-

stable

Aruba

BBB+

stable

BBB-

stable

Australia

AAA

stable

Aaa

stable

AAA

stable

Austria

AA+

stable

Aaa

stable

AAA

stable

Azerbaijan

BBB-

stable

Baa3

stable

BBB-

stable

Bahamas

BBB

negative

Baa2

stable

Bahrain

BBB

stable

Baa2

negative

BBB

stable

Bangladesh

BB-

stable

Ba3

stable

BB-

stable

Barbados

BB-

negative

B3

negative

Belarus

B-

stable

B3

negative

Belgium

AA

stable

Aa3

stable

AA

negative

Belize

B-

positive

Caa2

stable

Bermuda

AA-

negative

A1

stable

A+

stable

Bolivia

BB

stable

Ba3

stable

BB-

positive

Bosnia and Herzegovina

B

stable

B3

stable

Botswana

A-

stable

A2

stable

Brazil

BBB-

stable

Baa2

negative

BBB

stable

Bulgaria

BBB-

stable

Baa2

stable

BBB-

stable

Burkina Faso

B

watch neg

Cambodia

B

stable

B2

stable

Cameroon

B

stable

B

stable

Canada

AAA

stable

Aaa

stable

AAA

stable

Cape Verde

B

stable

B

stable

Cayman Islands

Aa3

stable

Chile

AA-

stable

Aa3

stable

A+

stable

China

AA-

stable

Aa3

stable

A+

stable

Colombia

BBB

stable

Baa2

stable

BBB

stable

Congo

B-

stable

B3

stable

Costa Rica

BB

stable

Ba1

stable

BB+

stable

Croatia

BB

stable

Ba1

negative

BB

stable

Cuba

Caa2

stable

Cyprus

B+

stable

B3

stable

B-

positive

Czech Republic

AA-

stable

A1

stable

A+

stable

Denmark

AAA

stable

Aaa

stable

AAA

stable

Dominican Republic

B+

stable

B1

stable

B+

stable

Ecuador

B+

stable

Caa1

stable

B

stable

Egypt

B-

stable

Caa1

stable

B-

stable

El Salvador

BB-

negative

Ba3

stable

BB-

negative

Estonia

AA-

stable

A1

stable

A+

stable

Ethiopia

B

stable

B1

stable

B

stable

European Union

AAA

stable

Fiji

B

positive

B1

stable

Finland

AA+

stable

Aaa

stable

AAA

stable

France

AA

negative

Aa1

negative

AA+

negative

Gabon

BB-

stable

BB-

stable

Georgia

BB-

stable

Ba3

positive

BB-

positive

Germany

AAA

stable

Aaa

stable

AAA

stable

Ghana

B-

stable

B2

negative

B

negative

Greece

B

stable

Caa1

stable

B

stable

Grenada

SD

nm

Guatemala

BB

stable

Ba1

stable

BB

stable

Honduras

B

stable

B3

stable

Hong Kong

AAA

stable

Aa1

stable

AA+

stable

Hungary

BB

stable

Ba1

stable

BB+

stable

Iceland

BBB-

positive

Baa3

stable

BBB

stable

India

BBB-

stable

Baa3

stable

BBB-

stable

Indonesia

BB+

stable

Baa3

stable

BBB-

stable

Ireland

A

positive

Baa1

stable

A-

stable

Isle of Man

Aa1

stable

Israel

A+

stable

A1

stable

A

stable

Italy

BBB-

negative

Baa2

stable

BBB+

stable

Ivory Coast

B1

positive

B

positive

Jamaica

B-

positive

Caa3

positive

B-

stable

Japan

AA-

negative

A1

stable

A+

negative

Jordan

BB-

stable

B1

stable

Kazakhstan

BBB+

negative

Baa2

positive

BBB+

stable

Kenya

B+

stable

B1

stable

B+

stable

Kuwait

AA

stable

Aa2

stable

AA

stable

Latvia

A-

stable

Baa1

stable

A-

stable

Lebanon

B-

stable

B1

negative

B

negative

Lesotho

BB-

stable

Liechtenstein

AAA

stable

Lithuania

A-

stable

Baa1

positive

A-

stable

Luxembourg

AAA

stable

Aaa

stable

AAA

stable

Macao

Aa2

stable

AA-

stable

Macedonia

BB-

stable

BB+

stable

Malaysia

A-

stable

A3

positive

A-

negative

Malta

BBB+

stable

A3

stable

A

stable

Mauritius

Baa1

stable

Mexico

BBB+

stable

A3

stable

BBB+

stable

Moldova

B3

stable

Mongolia

B+

stable

B2

negative

B+

negative

Montenegro

B+

stable

Ba3

negative

Morocco

BBB-

stable

Ba1

stable

BBB-

stable

Mozambique

B

stable

B1

stable

B+

stable

Namibia

Baa3

stable

BBB-

stable

Netherlands

AA+

stable

Aaa

stable

AAA

stable

New Zealand

AA

stable

Aaa

stable

AA

positive

Nicaragua

B3

stable

Nigeria

BB-

negative

Ba3

stable

BB-

stable

Norway

AAA

stable

Aaa

stable

AAA

stable

Oman

A

stable

A1

stable

Pakistan

B-

stable

Caa1

stable

Panama

BBB

stable

Baa2

stable

BBB

stable

Papua New Guinea

B+

stable

B1

stable

Paraguay

BB

stable

Ba2

positive

BB-

positive

Peru

BBB+

stable

A3

stable

BBB+

stable

Philippines

BBB

stable

Baa2

stable

BBB-

stable

Poland

A-

stable

A2

stable

A-

stable

Portugal

BB

stable

Ba1

stable

BB+

positive

Puerto Rico

BB

negative

B2

negative

Qatar

AA

stable

Aa2

stable

Republic of the Congo

B+

stable

Ba3

stable

B+

stable

Romania

BBB-

stable

Baa3

stable

BBB-

stable

Russia

BBB-

negative

Baa2

negative

BBB

negative

Rwanda

B

positive

B+

stable

San Marino

BBB+

stable

Saudi Arabia

AA-

positive

Aa3

stable

AA

stable

Senegal

B+

stable

B1

positive

Serbia

BB-

watch neg

B1

stable

B+

stable

Seychelles

B+

stable

Singapore

AAA

stable

Aaa

stable

AAA

stable

Slovakia

A

positive

A2

stable

A+

stable

Slovenia

A-

negative

Ba1

stable

BBB+

stable

South Africa

BBB-

stable

Baa2

stable

BBB

negative

South Korea

A+

positive

Aa3

stable

AA-

stable

Spain

BBB

stable

Baa2

positive

BBB+

stable

Sri Lanka

B+

stable

B1

stable

BB-

stable

St Vincent and the Grenadines

B3

negative

Suriname

BB-

stable

Ba3

stable

BB-

stable

Sweden

AAA

stable

Aaa

stable

AAA

stable

Switzerland

AAA

stable

Aaa

stable

AAA

stable

Taiwan

AA-

stable

Aa3

stable

A+

stable

Thailand

BBB+

stable

Baa1

stable

BBB+

stable

Trinidad and Tobago

A

stable

Baa1

stable

Tunisia

Ba3

negative

BB-

negative

Turkey

BB+

negative

Baa3

negative

BBB-

stable

Uganda

B

stable

B1

stable

B

positive

Ukraine

CCC

stable

Caa3

negative

CCC

United Arab Emirates

AA

stable

Aa2

stable

AA

stable

United Kingdom

AAA

stable

AA1

stable

AA+

stable

United States

AA+

stable

Aaa

stable

AAA

stable

Uruguay

BBB-

stable

Baa2

stable

BBB-

stable

Venezuela

CCC+

negative

Caa1

negative

B

negative

Vietnam

BB-

stable

B1

stable

BB-

stable