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The Japan Credit Rating Agency (JCR), established in 1985, is a Japanese financial services company which publishes credit ratings to Japanese companies, local governments, and other interested parties. It provides ratings for 70% of financial companies and 60% of companies in other industries in Japan.
Map of S&P's sovereign long-term foreign credit ratings as of March 2024. Legend: AAA AA+ AA AA− A+ A A− BBB+ BBB BBB− BB+ BB BB− B+ B B− CCC+ CCC CCC− SD/D. For S&P, a bond is considered investment grade if its credit rating is BBB− or
A sovereign credit rating is the credit rating of a sovereign entity, such as a national government. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors when looking to invest in particular jurisdictions, and also takes into account political risk.
Comparative rating index of sovereigns (CRIS) is a method for credit rating sovereign countries as a relative measure to other countries. This is an alternative method to the more common absolute grade issued by major credit rating agencies as shown in the list of countries by credit rating .
Sovereign credit risk is the risk of a government of a sovereign state becoming unwilling or unable to meet its loan or bond obligations leading to a sovereign default. Credit rating agencies will take into account the capital, interest, extraneous and procedural defaults, and failures to abide by the terms of bonds or other debt instruments when setting a countries credit rating.
In 2023, the Indian government's Chief Economic Advisor, V Anantha Nageswaran questioned India's sovereign credit rating of BBB- by S&P and Baaa3 by Moodys and called for a review of the big three's rating methods. [14] In January 2024, CareEdge Ratings issued its Sovereign Ratings Framework for public consultation. [15]
The credit rating is a financial indicator to potential investors of debt securities such as bonds.These are assigned by credit rating agencies such as Moody's, Standard & Poor's, and Fitch, which publish code designations (such as AAA, B, CC) to express their assessment of the risk quality of a bond.
The rating methodologies used to assess sovereign credit ratings are broadly similar to those used for corporate credit ratings, although the borrower's willingness to repay receives extra emphasis since national governments may be eligible for debt immunity under international law, thus complicating repayment obligations.