China Credit Rating

Current China credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's A+ - 21 Sep 2017 rating downgrade
Moody's Investors Service A1 negative 5 Dec 2023 outlook downgrade
Fitch Ratings A+ - 5 Nov 2007 rating upgrade
DBRS A - 10 Nov 2023 rating downgrade

China: Long-term Rating Scales Comparison

Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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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
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China Credit Ratings historical data

Timetable of China credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Date S&P Moody's Fitch DBRS
5 Dec 2023 A1
10 Nov 2023 A
11 Nov 2022 A (high)
15 Nov 2020 A (high)
22 Mar 2019 A (high)
21 Sep 2017 A+
24 May 2017 A1
31 Mar 2016 AA-
2 Mar 2016 Aa3
29 Sep 2014 A (high)
16 Apr 2013 Aa3
16 Dec 2010 AA-
11 Nov 2010 Aa3
9 Nov 2009 A1
31 Jul 2008 A+
5 Nov 2007 A+
26 Jul 2007 A A1
30 May 2007 A2
13 Sep 2006 A
27 Jul 2006 A
16 Oct 2005 A
19 Jul 2005 A-
17 Feb 2004 BBB+
15 Oct 2003 A2
13 Oct 2003 A-
15 Apr 2003 BBB
22 Nov 2002 A3
14 Aug 2001 A3
20 Jul 1999 BBB
16 Jul 1998 BBB+
19 Feb 1998 A3
11 Dec 1997 A-
14 May 1997 BBB+
10 Sep 1993 A3
19 Jul 1993 BBB
20 Feb 1992 BBB
8 Nov 1989 Baa1
18 May 1988 A3

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