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Galbraith's Law of Human Nature:

Faced with the choice between changing one's mind and proving that there is
no need to do so, almost everybody gets busy on the proof.

Ratings
 August 2011
Country
MOODYS RATING
MOODYS OUTLOOK
Fitch RATING
FITCH OUTLOOK
S and P RATING
S and P OUTLOOK
AL
Albania
B1
STABLE
B+
STABLE
AD
Andorra (Principality of)
A
NEGATIVE
AO
Angola
Ba3
STABLE
BB-
STABLE
BB-
STABLE
AR
Argentina
B3
STABLE
B
STABLE
B
STABLE
AM
Armenia
Ba2
STABLE
BB-
STABLE
AW
Aruba
BBB
STABLE
A-
NEGATIVE
AU
Australia
Aaa
STABLE
AA+
STABLE
AAA
STABLE
AT
Austria
Aaa
STABLE
AAA
STABLE
AAA
STABLE
AZ
Azerbaijan
Ba1
POSITIVE
BBB-
POSITIVE
BB+
POSITIVE
BS
Bahamas
A3
STABLE
BBB+
STABLE
BH
Bahrain
Baa1
NEGATIVE
BBB
NEGATIVE
BBB
NEGATIVE
BD
Bangladesh
Ba3
STABLE
BB-
STABLE
BB
Barbados
Baa3
NEGATIVE
BBB-
STABLE
BY
Belarus
B3
UNDER REVIEW
B
NEGATIVE
BE
Belgium
Aa1
STABLE
AA+
NEGATIVE
AA+
NEGATIVE
BZ
Belize
B3
STABLE
B
NEGATIVE
BJ
Benin
B
STABLE
B
STABLE
BM
Bermuda
Aa2
STABLE
AA+
STABLE
AA
STABLE
BT
Bolivia
B1
POSITIVE
B+
STABLE
B+
STABLE
BA
Bosnia and Herzegovina
B2
NEGATIVE
B+
NEGATIVE
BW
Botswana
A2
NEGATIVE
A-
STABLE
BR
Brazil
Baa2
POSITIVE
BBB
STABLE
BBB-
POSITIVE
BG
Bulgaria
Baa2
STABLE
BBB-
POSITIVE
BBB
STABLE
BF
Burkina Faso
B
STABLE
KH
Cambodia
B2
STABLE
B+
STABLE
CM
Cameroon
B
STABLE
B
STABLE
CA
Canada
Aaa
STABLE
AAA
STABLE
AAA
STABLE
CV
Cape Verde
B+
STABLE
B+
STABLE
CL
Chile
Aa3
STABLE
A+
STABLE
A+
POSITIVE
CN
China
Aa3
POSITIVE
A+
STABLE
AA-
STABLE
CO
Colombia
Baa3
STABLE
BBB-
STABLE
BBB-
STABLE
CK
Cook Islands
BB-
NEGATIVE
CR
Costa Rica
Baa3
STABLE
BB+
STABLE
BB
STABLE
HR
Croatia
Baa3
STABLE
BBB-
NEGATIVE
BBB-
NEGATIVE
CU
Cuba
Caa1
STABLE
CY
Cyprus
Baa1
NEGATIVE
A-
NEGATIVE
A-
NEGATIVE
CZ
Czech Republic
A1
STABLE
A+
POSITIVE
A
POSITIVE
DK
Denmark
Aaa
STABLE
AAA
STABLE
AAA
STABLE
DO
Dominican Republic
B1
STABLE
B
POSITIVE
B+
STABLE
EC
Ecuador
Caa2
STABLE
B-
STABLE
B-
STABLE
EG
Egypt
Ba3
NEGATIVE
BB
NEGATIVE
BB
NEGATIVE
SV
El Salvador
Ba2
STABLE
BB
NEGATIVE
BB-
STABLE
EE
Estonia
A1
STABLE
A+
STABLE
A
POSITIVE
FJ
Fiji
B1
NEGATIVE
B-
POSITIVE
FI
Finland
Aaa
STABLE
AAA
STABLE
AAA
STABLE
FR
France
Aaa
STABLE
AAA
STABLE
AAA
STABLE
GA
Gabon
BB-
STABLE
BB-
STABLE
GE
Georgia
Ba3
STABLE
B+
POSITIVE
B+
POSITIVE
DE
Germany
Aaa
STABLE
AAA
STABLE
AAA
STABLE
GH
Ghana
B+
STABLE
B
STABLE
GR
Greece
Ca
DEVELOPING
CCC
CC
NEGATIVE
GD
Grenada
B-
STABLE
GT
Guatemala
Ba1
STABLE
BB+
STABLE
BB
STABLE
GG
Guernsey
AAA
STABLE
HN
Honduras
B2
STABLE
B
POSITIVE
HK
Hong Kong
Aa1
POSITIVE
AA+
STABLE
AAA
STABLE
HU
Hungary
Baa3
NEGATIVE
BBB-
STABLE
BBB-
NEGATIVE
IS
Iceland
Baa3
NEGATIVE
BB+
STABLE
BBB-
NEGATIVE
IN
India
Baa3
STABLE
BBB-
STABLE
BBB-
STABLE
ID
Indonesia
Ba1
STABLE
BB+
POSITIVE
BB+
POSITIVE
IE
Ireland
Ba1
NEGATIVE
BBB+
NEGATIVE
BBB+
STABLE
IM
Isle of Man
AAA
STABLE
IL
Israel
A1
STABLE
A
STABLE
A
STABLE
IT
Italy
Aa2
UNDER REVIEW
AA-
STABLE
A+
NEGATIVE
JM
Jamaica
B3
STABLE
B-
STABLE
B-
STABLE
JP
Japan
Aa2
UNDER REVIEW
AA
NEGATIVE
AA-
NEGATIVE
JO
Jordan
Ba2
NEGATIVE
BB
NEGATIVE
KZ
Kazakhstan
Baa2
STABLE
BBB-
POSITIVE
BBB
STABLE
KE
Kenya
B+
STABLE
B+
STABLE
KP
Korea
A1
STABLE
A+
STABLE
A
STABLE
KW
Kuwait
Aa2
STABLE
AA
STABLE
AA
STABLE
LV
Latvia (Republic of)
Baa3
POSITIVE
BBB-
POSITIVE
BB+
POSITIVE
LB
Lebanon
B1
STABLE
B
STABLE
B
STABLE
LS
Lesotho
BB-
NEGATIVE
LI
Liechtenstein
AAA
STABLE
LT
Lithuania
Baa1
STABLE
BBB
POSITIVE
BBB
STABLE
LU
Luxembourg
Aaa
STABLE
AAA
STABLE
AAA
STABLE
MO
Macedonia
BB+
STABLE
BB
STABLE
MY
Malaysia
A3
STABLE
A-
STABLE
A-
STABLE
MT
Malta
A1
STABLE
A+
STABLE
A
STABLE
MX
Mexico
Baa1
STABLE
BBB
STABLE
BBB
STABLE
MN
Mongolia
B1
STABLE
B+
STABLE
BB-
STABLE
ME
Montenegro
Ba3
STABLE
BB
NEGATIVE
MA
Morocco
Ba1
STABLE
BBB-
STABLE
BBB-
STABLE
MZ
Mozambique
B
STABLE
B+
STABLE
NA
Namibia
BBB-
POSITIVE
NL
Netherlands
Aaa
STABLE
AAA
STABLE
AAA
STABLE
NZ
New Zealand
Aaa
STABLE
AA+
NEGATIVE
AA+
NEGATIVE
NG
Nigeria
BB-
NEGATIVE
B+
STABLE
NO
Norway
Aaa
STABLE
AAA
STABLE
AAA
STABLE
OM
Oman (Sultanate of)
A1
STABLE
A
NEGATIVE
PK
Pakistan
B3
STABLE
B-
STABLE
PA
Panama
Baa3
STABLE
BBB
STABLE
BBB-
POSITIVE
PG
Papua New Guinea
B1
STABLE
B+
STABLE
PY
Paraguay
B1
STABLE
B+
POSITIVE
PE
Peru
Baa3
POSITIVE
BBB-
POSITIVE
BBB-
POSITIVE
PH
Philippines
Ba2
STABLE
BB+
STABLE
BB
STABLE
PL
Poland
A2
STABLE
A-
STABLE
A-
STABLE
PT
Portugal
Ba2
NEGATIVE
BBB-
NEGATIVE
BBB-
NEGATIVE
QA
Qatar
Aa2
STABLE
AA
STABLE
RO
Romania
Baa3
STABLE
BBB-
STABLE
BB+
STABLE
RO
Russia
Baa1
STABLE
BBB
POSITIVE
BBB
STABLE
RW
Rwanda
B
STABLE
SM
San Marino
A
NEGATIVE
SA
Saudi Arabia
Aa3
STABLE
AA-
STABLE
AA-
STABLE
SN
Senegal
B1
STABLE
B+
NEGATIVE
RS
Serbia
BB-
STABLE
BB
STABLE
SC
Seychelles
B
STABLE
SG
Singapore
Aaa
STABLE
AAA
STABLE
AAA
STABLE
SK
Slovak Republic
A1
STABLE
A+
STABLE
A+
STABLE
SI
Slovenia
Aa2
STABLE
AA
STABLE
AA
NEGATIVE
ZA
South Africa
A3
STABLE
BBB+
STABLE
BBB+
STABLE
KR
South Korea
ES
Spain
Aa2
UNDER REVIEW
AA+
NEGATIVE
AA
NEGATIVE
LK
Sri Lanka
B1
POSITIVE
BB-
STABLE
B+
POSITIVE
SR
Suriname (The Republic of)
B1
STABLE
B
POSITIVE
B+
POSITIVE
SE
Sweden
Aaa
STABLE
AAA
STABLE
AAA
STABLE
CH
Switzerland
Aaa
STABLE
AAA
STABLE
AAA
STABLE
SY
Taiwan
Aa3
STABLE
A+
STABLE
AA-
STABLE
TH
Thailand
Baa1
STABLE
BBB
STABLE
BBB+
STABLE
TO
Trinidad & Tobago
Baa1
STABLE
A
STABLE
TN
Tunisia
Baa3
NEGATIVE
BBB-
NEGATIVE
BBB-
NEGATIVE
TR
Turkey
Ba2
POSITIVE
BB+
POSITIVE
BB
POSITIVE
UG
Uganda
B
POSITIVE
B+
STABLE
UA
Ukraine (Republic of)
B2
STABLE
B
POSITIVE
B+
STABLE
AE
United Arab Emirates (Abu Dhabi)
Aa2
STABLE
AA
STABLE
AA
STABLE
AE
United Arab Emirates (Emirate of Ras Al Khaimah)
Aa2
STABLE
GB
United Kingdom
Aaa
STABLE
AAA
STABLE
AAA
STABLE
US
United States
Aaa
UNDER REVIEW
AAA
STABLE
AA+
NEGATIVE
UY
Uruguay
Ba1
STABLE
BB
POSITIVE
BB+
STABLE
VU
Venezuela
B2
STABLE
B+
STABLE
BB-
STABLE
VN
Vietnam
B1
NEGATIVE
B+
STABLE
BB-
NEGATIVE
ZW
Zambia
B+
STABLE
B+
STABLE