Abu Dhabi (Emirate of)

AA

AA

AA+

Andorra (Principality of)

A

A

AAA

Argentina (Republic of) (Unsolicited Ratings)

B

B

B

Aruba

A-

A-

A-

Australia (Commonwealth of) (Unsolicited Ratings)

AAA

AAA

AAA

Austria (Republic of)

AAA

AAA

AAA

Azerbaijan (Republic of)

BB+

BB+

BBB-

Bahamas (The Commonwealth of The)

BBB+

BBB+

A-

Bahrain (Kingdom of)

BBB

BBB

BBB

Bangladesh (People's Republic of)

BB-

BB-

BB-

Barbados

BBB-

BBB-

BBB

Belarus (Republic of)

B

B

B

Belgium (Kingdom of) (Unsolicited Ratings)

AA+

AA+

AAA

Belize

B-

B-

B-

Benin (Republic of)

B

B

BBB-

Bermuda

AA

AA

AAA

Bolivia (Plurinational State of)

B+

B+

B+

Bosnia and Herzegovina

B+

B+

BB

Botswana (Republic of)

A

A-

A+

Brazil (Federative Republic of)

BBB+

BBB-

BBB+

Bulgaria (Republic of)

BBB

BBB

A

Burkina Faso

B

B

BBB-

Cambodia (Kingdom of) (Unsolicited Ratings)

B+

B+

BB-

Cameroon (Republic of)

B

B

BBB-

Canada

AAA

AAA

AAA

Cape Verde (Republic of)

B+

B+

BB

Chile (Republic of)

AA

A+

AA

China (People's Republic of)

AA-

AA-

AA-

Colombia (Republic of)

BBB+

BBB-

BBB+

Cook Islands

BB-

BB-

AAA

Costa Rica (Republic of)

BB+

BB

BBB-

Croatia (Republic of)

BBB-

BBB-

BBB+

Cyprus (Republic of)

BBB+

BBB+

AAA

Czech Republic

A+

A

AA

Denmark (Kingdom of)

AAA

AAA

AAA

Dominican Republic

B+

B+

BB

Ecuador (Republic of)

B-

B-

B-

Egypt (Arab Republic of)

BB+

BB

BB+

El Salvador (Republic of)

BB-

BB-

AAA

Emirate of Ras Al Khaimah

A

A

AA+

Estonia (Republic of)

A

A

AAA

Fiji Islands (Republic of)

B

B

B

Finland (Republic of)

AAA

AAA

AAA

France (Republic of) (Unsolicited Ratings)

AAA

AAA

AAA

Gabonese Republic

BB-

BB-

BBB-

Georgia (Government of)

B+

B+

BB

Germany (Federal Republic of) (Unsolicited Ratings)

AAA

AAA

AAA

Ghana (Republic of)

B

B

B+

Grenada

B-

B-

BBB-

Guatemala (Republic of)

BB+

BB

BBB-

Guernsey

AAA

AAA

AAA

Hellenic Republic

CC

CC

AAA

Honduras (Republic of)

B

B

BB-

Hong Kong (Special Administrative Region)

AAA

AAA

AAA

Hungary (Republic of)

BBB-

BBB-

A-

Iceland (Republic of)

BBB-

BBB-

BBB-

India (Republic of) (Unsolicited Ratings)

BBB-

BBB-

BBB+

Indonesia (Republic of)

BB+

BB+

BBB-

Ireland (Republic of)

BBB+

BBB+

AAA

Isle of Man

AAA

AAA

AAA

Israel (State of)

AA-

A

AA

Italy (Republic of) (Unsolicited Ratings)

A+

A+

AAA

Jamaica

B-

B-

B

Japan (Unsolicited Ratings)

AA-

AA-

AAA

Jordan (Hashemite Kingdom of)

BB+

BB

BBB-

Kazakhstan (Republic of)

BBB+

BBB

BBB+

Kenya (Republic of)

B+

B+

BB-

Korea (Republic of)

A+

A

AA-

Kuwait (State of)

AA

AA

AA+

Latvia (Republic of)

BB+

BB+

BBB+

Lebanon (Republic of)

B

B

BB-

Liechtenstein (Principality of)

AAA

AAA

AAA

Lithuania (Republic of)

BBB

BBB

A

Luxembourg (Grand Duchy of)

AAA

AAA

AAA

Macedonia (Republic of)

BB+

BB

BB+

Malaysia

A

A-

A+

Malta (Republic of)

A

A

AAA

Mongolia

BB-

BB-

BB

Montenegro (Republic of)

BB

BB

AAA

Montserrat

BBB-

BBB-

BBB-

Morocco (Kingdom of)

BBB

BBB-

BBB+

Mozambique (Republic of)

B+

B+

B+

Netherlands (State of The) (Unsolicited Ratings)

AAA

AAA

AAA

New Zealand

AAA

AA+

AAA

Nigeria (Federal Republic of)

B+

B+

B+

Norway (Kingdom of)

AAA

AAA

AAA

Oman (Sultanate of)

A

A

AA-

Pakistan (Islamic Republic of)

B-

B-

B-

Panama (Republic of)

BBB-

BBB-

AAA

Papua New Guinea (Independent State of)

BB-

B+

BB

Paraguay (Republic of)

B+

B+

BB

Peru (Republic of)

BBB+

BBB-

BBB+

Philippines (Republic of)

BB+

BB

BB+

Poland (Republic of)

A

A-

A+

Portugal (Republic of)

BBB-

BBB-

AAA

Qatar (State of)

AA

AA

AA+

Republic of Albania

B+

B+

BB-

Republic of Angola

BB-

BB-

BB-

Republic of Zambia

B+

B+

B+

Romania

BBB-

BB+

BBB+

Russian Federation

BBB+

BBB

BBB

Saudi Arabia (Kingdom of)

AA-

AA-

AA+

Senegal (Republic of)

B+

B+

BBB-

Serbia (Republic of)

BB

BB

BB

Singapore (Republic of) (Unsolicited Ratings)

AAA

AAA

AAA

Slovak Republic

A+

A+

AAA

Slovenia (Republic of)

AA

AA

AAA

South Africa (Republic of)

A

BBB+

A

Spain (Kingdom of)

AA

AA

AAA

Sri Lanka (Democratic Socialist Republic of)

BB-

B+

B+

Suriname (The Republic of)

BB-

B+

BB-

Sweden (Kingdom of)

AAA

AAA

AAA

Swiss Confederation (Unsolicited Ratings)

AAA

AAA

AAA

Taiwan (Unsolicited Ratings)

AA-

AA-

AA+

Thailand (Kingdom of)

A-

BBB+

A

Trinidad and Tobago (Republic of)

A

A

AA

Tunisia (Republic of)

BBB

BBB-

BBB

Turkey (Republic of)

BB+

BB

BBB-

Uganda (Republic of)

B+

B+

BB

Ukraine

BB-

B+

B+

United Kingdom (Unsolicited Ratings)

AAA

AAA

AAA

United Mexican States

A-

BBB

A

United States of America (Unsolicited Ratings)

AA+

AA+

AAA

Uruguay (Oriental Republic of)

BB+

BB+

BBB

Venezuela (Bolivarian Republic of)

BB-

BB-

BB-

Vietnam (Socialist Republic of)

BB

BB-

BB