credit

S&P, Moody's and Fitch rate the euro area

Banking » S&P, Moody's And Fitch Rate The Euro Area

For the intrepid data gatherer, Bankrate assembled a historical record of the credit ratings of the 17 European countries that share the euro. Data shown are from 2005 to the present day, according to the three ratings agencies: Standard & Poor's, Moody's and Fitch. Ratings are current as of year-end in all years except for 2012. Those ratings are current as of mid-October. Click through the tabs to see how each agency rates each country. Check out the key to learn what the ratings mean.

Key to ratings issued by the three agencies

 Moody'sFitchS&P 
Investment gradeAaaAAAAAAThis is the highest rating; the issuer has low credit risk and an extremely strong ability to pay debts.
 AaAAAAStill really good; this issuer has a very strong ability to pay obligations.
 AAAThis issuer has no problems paying bills but could be slightly shaken by adverse conditions.
 BaaBBBBBBAdequate ability to meet commitments, but economic shocks or adverse conditions could knock the issuer off course.
SpeculativeBaBBBBNot great, but not too bad -- in the short term. The long-term future is uncertain, and economic shocks could reduce its ability to pay bills.
 BBBCurrently doing fine but in a precarious position as any adverse conditions could impair the ability to meet obligations.
 CaaCCCCCCCurrently not doing well and dependent on favorable conditions to meet financial commitments.
 CaCCCCTimes are tough, and the ability to meet commitments could be knocked down with a feather.
 CC Look out below -- a default is coming.
   RUnder regulatory supervision, some obligations may get paid and some may not if the regulators have that power.
  RD and DSD and DThe selective default rating from S&P or the restricted default rating from Fitch indicates that certain obligations have been defaulted on but other payments are being made on time.  Default indicates that the issuer will not be able to meet any of its obligations.
 Modified by 1, 2 and 3: 1 indicates that the rating is on the higher end of the spectrum, while 3 points is lower.Plus (+) or minus (-)  Plus (+) or minus (-)  The addition of plus or minus to a rating adds a little more information about the relative strength or weakness of the issuer.

 

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