| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | AAA | - | 6 Mar 1995 | rating upgrade |
| Moody's Investors Service | Aaa | - | 14 Jun 2002 | rating upgrade |
| Fitch Ratings | AAA | - | 14 May 2003 | rating upgrade |
| DBRS | AAA | - | 29 Jan 2016 |
Current Singapore credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Singapore ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Singapore, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
Discover what a Credit Rating is and why it matters.
Singapore: Long-term Rating Scales Comparison
Singapore long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Singapore sovereign debt. These scales help investors understand the likelihood that Singapore will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
with Lazy Portfolios and Passive Investing
Use top metrics to evaluate
Choose Bond ETFs to control risk
Join the passive investing strategy
Singapore Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 29 Jan 2016 | AAA | |||
| 14 May 2003 | AAA | |||
| 14 Jun 2002 | Aaa | |||
| 18 Nov 1998 | AA+ | |||
| 18 Jan 1996 | Aa1 | |||
| 6 Mar 1995 | AAA | |||
| 24 May 1994 | Aa2 | |||
| 6 Sep 1991 | AA+ | |||
| 20 Sep 1989 | Aa3 | |||
| 26 Jun 1989 | AA | |||
| 24 May 1989 | AA |
with Lazy Portfolios and Passive Investing
