Current Taiwan 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 Taiwan 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 Taiwan, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
The table below shows the current Taiwan credit ratings, according to the main rating agencies.
| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | AA+ | - | 30 Apr 2022 | rating upgrade |
| Moody's Investors Service | Aa3 | - | 22 Sep 2022 | outlook downgrade |
| Fitch Ratings | AA | - | 10 Sep 2021 | rating upgrade |
| DBRS | - | - |
Taiwan: Long-term Rating Scales Comparison
Taiwan 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 Taiwan sovereign debt. These scales help investors understand the likelihood that Taiwan 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
|
||
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Taiwan 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 |
|---|---|---|---|---|
| 22 Sep 2022 | Aa3 | |||
| 30 Apr 2022 | AA+ | |||
| 10 Sep 2021 | AA | |||
| 22 Apr 2021 | AA | |||
| 25 Feb 2021 | Aa3 | |||
| 12 Oct 2016 | AA- | |||
| 12 Oct 2015 | A+ | |||
| 10 Jun 2010 | AA- | |||
| 14 Apr 2009 | AA- | |||
| 11 Apr 2008 | AA- | |||
| 30 Nov 2004 | AA- | |||
| 18 Dec 2002 | AA- | |||
| 19 Nov 2001 | A+ | |||
| 26 Jul 2001 | AA | |||
| 6 Dec 2000 | AA+ | |||
| 24 Mar 1994 | Aa3 | |||
| 2 Aug 1991 | AA+ | |||
| 26 Jun 1989 | AA | |||
| 20 Apr 1989 | AA |
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