Best credit ratings: Australia

Australia has the highest credit rating of Aaa, according to Moody’s Ratings. Australia has sound political and legal systems that promote a stable ecosystem for businesses and investors.

Denmark

Denmark is considered immensely creditworthy, with a very low risk of default. Denmark is known for its robust and competitive economy, low debt-to-GDP ratio, and responsible public spending.

Liechtenstein

Liechtenstein has a high credit rating because of its healthy finances, stable politics, and almost no public debt. It has a diversified economy and one of the highest GDPs per capita in the world.

The Netherlands

The Netherlands has a large, advanced, and open economy, known for its strong performance. It is one of the six founding members of the European Union and is closely integrated into the European and global economy.

Norway

Norway’s high credit rating comes from its strong fiscal position. The country's Government Pension Fund Global (GPFG), the world’s largest sovereign wealth fund worth US$1.7 trillion, provides long-term financial stability and serves as a cushion against economic shocks.

European Union

The European Union as a whole enjoys high credit ratings due to the creditworthiness of its members. Although the EU is not a sovereign country, it is rated based on its ability to meet its financial commitments and obligations, especially when it receives debt for several of its programs.

Worst credit ratings: Lebanon

Lebanon’s deep economic and financial crisis remains unresolved, with rising inflation, debt, and currency devaluation. It has a credit rating of C, one of the lowest in the world.

Belarus

Several sanctions have been imposed on Belarus as it supports Russia in the ongoing Russia-Ukraine war. It also failed its scheduled payment for Eurobonds in June 2022, which reflected the country’s dire financial situation.

Bolivia

Bolivia has limited foreign exchange reserves, which will affect its ability to pay for imports or pay debt. This led to the downgrading of its rating in April 2025.

Ghana

Ghana’s low rating is due to defaults in payments, rising debt, and low liquidity. The ratings also reflect the high likelihood of significant losses to private creditors.

Mali

Mali’s low credit rating reflects the risk of instability, terrorism, and an ongoing debt burden. At the same time, it also suffers from low economic output and relies on external financial aid.

Ecuador

The country faces several serious challenges, such as high levels of income inequality, poverty, and social unrest. Weak governance and corruption further exacerbate Ecuador’s precarious economic situation.