Sovereign Rating by Country
Sovereign credit ratings and implied default spreads across 196 economies. Ratings inform the default spread inputs used in Damodaran-methodology CRP computation.
| Country | Rating | Default spread (bp) | CRP |
|---|---|---|---|
| GermanyDE | Aaa | 0 | 0.00% |
| CanadaCA | Aaa | 0 | 0.00% |
| AustraliaAU | Aaa | 0 | 0.00% |
| NetherlandsNL | Aaa | 0 | 0.00% |
| SwitzerlandCH | Aaa | 0 | 0.00% |
| SwedenSE | Aaa | 0 | 0.00% |
| NorwayNO | Aaa | 0 | 0.00% |
| DenmarkDK | Aaa | 0 | 0.00% |
| SingaporeSG | Aaa | 0 | 0.00% |
| New ZealandNZ | Aaa | 0 | 0.00% |
| LuxembourgLU | Aaa | 0 | 0.00% |
| LiechtensteinLI | Aaa | 0 | 0.00% |
| United StatesUS | Aa1 | 23 | 0.23% |
| AustriaAT | Aa1 | 23 | 0.36% |
| FinlandFI | Aa1 | 23 | 0.36% |
| South KoreaKR | Aa2 | 42 | 0.64% |
| UAEAE | Aa2 | 42 | 0.64% |
| KuwaitKW | Aa2 | 42 | 0.64% |
| FranceFR | Aa3 | 51 | 0.78% |
| United KingdomGB | Aa3 | 51 | 0.78% |
| Hong KongHK | Aa3 | 51 | 0.78% |
| BelgiumBE | Aa3 | 51 | 0.78% |
| IrelandIE | Aa3 | 51 | 0.78% |
| Czech RepublicCZ | Aa3 | 51 | 0.78% |
| Saudi ArabiaSA | Aa3 | 51 | 0.78% |
SHOW ALL 196 COUNTRIES
| Country | Rating | Default spread (bp) | CRP |
|---|---|---|---|
| QatarQA | Aa3 | 51 | 0.78% |
| TaiwanTW | Aa3 | 51 | 0.78% |
| JapanJP | A1 | 60 | 0.91% |
| ChinaCN | A1 | 60 | 0.91% |
| EstoniaEE | A1 | 60 | 0.91% |
| PolandPL | A2 | 72 | 1.10% |
| ChileCL | A2 | 72 | 1.10% |
| SlovakiaSK | A2 | 72 | 1.10% |
| LithuaniaLT | A2 | 72 | 1.10% |
| IcelandIS | A2 | 72 | 1.10% |
| MaltaMT | A2 | 72 | 1.10% |
| SpainES | A3 | 102 | 1.55% |
| PortugalPT | A3 | 102 | 1.55% |
| MalaysiaMY | A3 | 102 | 1.55% |
| SloveniaSI | A3 | 102 | 1.55% |
| LatviaLV | A3 | 102 | 1.55% |
| BotswanaBW | A3 | 102 | 1.55% |
| IsraelIL | Baa1 | 136 | 2.07% |
| ThailandTH | Baa1 | 136 | 2.07% |
| PeruPE | Baa1 | 136 | 2.07% |
| BulgariaBG | Baa1 | 136 | 2.07% |
| UruguayUY | Baa1 | 136 | 2.07% |
| ItalyIT | Baa2 | 162 | 2.46% |
| IndonesiaID | Baa2 | 162 | 2.46% |
| MexicoMX | Baa2 | 162 | 2.46% |
| PhilippinesPH | Baa2 | 162 | 2.46% |
| HungaryHU | Baa2 | 162 | 2.46% |
| CroatiaHR | Baa2 | 162 | 2.46% |
| KazakhstanKZ | Baa2 | 162 | 2.46% |
| CyprusCY | Baa2 | 162 | 2.46% |
| IndiaIN | Baa3 | 187 | 2.85% |
| ColombiaCO | Baa3 | 187 | 2.85% |
| GreeceGR | Baa3 | 187 | 2.85% |
| RomaniaRO | Baa3 | 187 | 2.85% |
| OmanOM | Baa3 | 187 | 2.85% |
| AlgeriaDZ | Baa3 | 187 | 2.85% |
| MauritiusMU | Baa3 | 187 | 2.85% |
| PanamaPA | Baa3 | 187 | 2.85% |
| BrazilBR | Ba1 | 213 | 3.24% |
| AzerbaijanAZ | Ba1 | 213 | 3.24% |
| GeorgiaGE | Ba1 | 213 | 3.24% |
| MoroccoMA | Ba1 | 213 | 3.24% |
| NamibiaNA | Ba1 | 213 | 3.24% |
| ParaguayPY | Ba1 | 213 | 3.24% |
| GuatemalaGT | Ba1 | 213 | 3.24% |
| Trinidad & TobagoTT | Ba1 | 213 | 3.24% |
| South AfricaZA | Ba2 | 256 | 3.90% |
| VietnamVN | Ba2 | 256 | 3.90% |
| BahamasBS | Ba2 | 256 | 3.90% |
| TürkiyeTR | Ba3 | 306 | 4.66% |
| SerbiaRS | Ba3 | 306 | 4.66% |
| N. MacedoniaMK | Ba3 | 306 | 4.66% |
| ArmeniaAM | Ba3 | 306 | 4.66% |
| JordanJO | Ba3 | 306 | 4.66% |
| BangladeshBD | Ba3 | 306 | 4.66% |
| UzbekistanUZ | Ba3 | 306 | 4.66% |
| Côte d'IvoireCI | Ba3 | 306 | 4.66% |
| SenegalSN | Ba3 | 306 | 4.66% |
| Dominican Rep.DO | Ba3 | 306 | 4.66% |
| AlbaniaAL | B1 | 450 | 6.86% |
| MontenegroME | B1 | 450 | 6.86% |
| TanzaniaTZ | B1 | 450 | 6.86% |
| NepalNP | B1 | 450 | 6.86% |
| FijiFJ | B1 | 450 | 6.86% |
| BahrainBH | B1 | 450 | 6.86% |
| RwandaRW | B1 | 450 | 6.86% |
| Costa RicaCR | B1 | 450 | 6.86% |
| HondurasHN | B1 | 450 | 6.86% |
| JamaicaJM | B1 | 450 | 6.86% |
| BarbadosBB | B1 | 450 | 6.86% |
| GuyanaGY | B1 | 450 | 6.86% |
| BeninBJ | B1 | 450 | 6.86% |
| SeychellesSC | B1 | 450 | 6.86% |
| UgandaUG | B2 | 499 | 7.60% |
| MyanmarMM | B2 | 499 | 7.60% |
| CambodiaKH | B2 | 499 | 7.60% |
| Papua New GuineaPG | B2 | 499 | 7.60% |
| CameroonCM | B2 | 499 | 7.60% |
| Cape VerdeCV | B2 | 499 | 7.60% |
| Bosnia & Herz.BA | B3 | 552 | 8.41% |
| MoldovaMD | B3 | 552 | 8.41% |
| KenyaKE | B3 | 552 | 8.41% |
| AngolaAO | B3 | 552 | 8.41% |
| NigeriaNG | B3 | 552 | 8.41% |
| MongoliaMN | B3 | 552 | 8.41% |
| TajikistanTJ | B3 | 552 | 8.41% |
| KyrgyzstanKG | B3 | 552 | 8.41% |
| MadagascarMG | B3 | 552 | 8.41% |
| NicaraguaNI | B3 | 552 | 8.41% |
| BelizeBZ | B3 | 552 | 8.41% |
| EcuadorEC | B3 | 552 | 8.41% |
| DjiboutiDJ | B3 | 552 | 8.41% |
| MauritaniaMR | B3 | 552 | 8.41% |
| GuineaGN | B3 | 552 | 8.41% |
| TogoTG | B3 | 552 | 8.41% |
| LesothoLS | B3 | 552 | 8.41% |
| ArgentinaAR | Caa1 | 637 | 9.71% |
| EgyptEG | Caa1 | 637 | 9.71% |
| PakistanPK | Caa1 | 637 | 9.71% |
| MaldivesMV | Caa1 | 637 | 9.71% |
| IraqIQ | Caa1 | 637 | 9.71% |
| DR CongoCD | Caa1 | 637 | 9.71% |
| GabonGA | Caa1 | 637 | 9.71% |
| El SalvadorSV | Caa1 | 637 | 9.71% |
| MaliML | Caa1 | 637 | 9.71% |
| NigerNE | Caa1 | 637 | 9.71% |
| Burkina FasoBF | Caa1 | 637 | 9.71% |
| LiberiaLR | Caa1 | 637 | 9.71% |
| TunisiaTN | Caa2 | 765 | 11.67% |
| EthiopiaET | Caa2 | 765 | 11.67% |
| CongoCG | Caa2 | 765 | 11.67% |
| MozambiqueMZ | Caa2 | 765 | 11.67% |
| Eq. GuineaGQ | Caa2 | 765 | 11.67% |
| Sierra LeoneSL | Caa2 | 765 | 11.67% |
| ChadTD | Caa2 | 765 | 11.67% |
| ZambiaZM | Caa3 | 908 | 13.84% |
| LaosLA | Caa3 | 908 | 13.84% |
| MalawiMW | Caa3 | 908 | 13.84% |
| Puerto RicoPR | Caa3 | 908 | 13.84% |
| UkraineUA | Ca | 1020 | 15.54% |
| RussiaRU | Ca | 1020 | 15.54% |
| BelarusBY | Ca | 1020 | 15.54% |
| LebanonLB | Ca | 1020 | 15.54% |
| GhanaGH | Ca | 1020 | 15.54% |
| ZimbabweZW | Ca | 1020 | 15.54% |
| SudanSD | Ca | 1020 | 15.54% |
| Sri LankaLK | Ca | 1020 | 15.54% |
| IranIR | Ca | 1020 | 15.54% |
| SyriaSY | Ca | 1020 | 15.54% |
| YemenYE | Ca | 1020 | 15.54% |
| AfghanistanAF | Ca | 1020 | 15.54% |
| BoliviaBO | Ca | 1020 | 15.54% |
| VenezuelaVE | Ca | 1020 | 15.54% |
| CubaCU | Ca | 1020 | 15.54% |
| SurinameSR | Ca | 1020 | 15.54% |
| HaitiHT | Ca | 1020 | 15.54% |
| SomaliaSO | Ca | 1020 | 15.54% |
| Central African Rep.CF | Ca | 1020 | 15.54% |
| BurundiBI | Ca | 1020 | 15.54% |
| South SudanSS | Ca | 1020 | 15.54% |
| North KoreaKP | NR | 1020 | 15.54% |
| BhutanBT | NR | 352 | 5.37% |
| TurkmenistanTM | NR | 552 | 8.41% |
| LibyaLY | NR | 637 | 9.71% |
| French PolynesiaPF | NR | 136 | 2.07% |
| New CaledoniaNC | NR | 136 | 2.07% |
| MonacoMC | NR | 0 | 0.00% |
| San MarinoSM | NR | 102 | 1.55% |
| Vatican CityVA | NR | 0 | 0.00% |
| AndorraAD | NR | 51 | 0.78% |
| GibraltarGI | NR | 51 | 0.78% |
| Saint LuciaLC | NR | 450 | 6.86% |
| St. VincentVC | NR | 450 | 6.86% |
| Antigua & Barb.AG | NR | 450 | 6.86% |
| GrenadaGD | NR | 450 | 6.86% |
| DominicaDM | NR | 450 | 6.86% |
| St. KittsKN | NR | 450 | 6.86% |
| MicronesiaMF | NR | 352 | 5.37% |
| SamoaWS | NR | 352 | 5.37% |
| TongaTO | NR | 352 | 5.37% |
| VanuatuVU | NR | 352 | 5.37% |
| KiribatiKI | NR | 352 | 5.37% |
| Solomon IslandsSB | NR | 450 | 6.86% |
| TuvaluTV | NR | 352 | 5.37% |
| NauruNR | NR | 352 | 5.37% |
| PalauPW | NR | 352 | 5.37% |
| Marshall IslandsMH | NR | 352 | 5.37% |
| Faroe IslandsFO | NR | 23 | 0.36% |
| GreenlandGL | NR | 0 | 0.00% |
| Isle of ManIM | NR | 51 | 0.78% |
| JerseyJE | NR | 51 | 0.78% |
| GuernseyGG | NR | 51 | 0.78% |
| East TimorTL | NR | 450 | 6.86% |
| EritreaER | NR | 1020 | 15.54% |
| Guinea-BissauGW | NR | 637 | 9.71% |
| São Tomé & PríncipeST | NR | 637 | 9.71% |
| ComorosKM | NR | 637 | 9.71% |
| EswatiniSZ | NR | 352 | 5.37% |
| The GambiaGM | NR | 637 | 9.71% |
Default spread mapping and CRP computation follow the methodology published by Aswath Damodaran (NYU Stern). Rating-implied spreads are mapped per the Jan 2026 edition. We do not claim to be more accurate, only more current.