Country Credit Ratings

SOTW Credit Score (0-100) based on World Bank Governance Indicators, GDP per capita, and government debt levels. Higher scores indicate stronger institutional quality and creditworthiness.

#	Country			Governance	GDP/Capita	Debt/GDP	Region
1	South Sudan	CC	8.6	-2.07	$369	60.2%	Sub-Saharan Africa
2	Sudan	CC	8.9	-1.8	$763	172.4%	Sub-Saharan Africa
3	Syrian Arab Republic	CCC	10	-2	—	—	Middle East, North Africa, Afghanistan & Pakistan
4	Somalia, Fed. Rep.	CCC	10.5	-1.97	$798	—	Sub-Saharan Africa
5	Yemen, Rep.	CCC	10.9	-1.95	$401	68.5%	Middle East, North Africa, Afghanistan & Pakistan
6	Venezuela, RB	CCC	11	-1.7	$2,972	164.3%	Latin America & Caribbean
7	Libya	B-	15.2	-1.74	$6,972	—	Middle East, North Africa, Afghanistan & Pakistan
8	Afghanistan	B-	15.4	-1.73	$417	8.8%	Middle East, North Africa, Afghanistan & Pakistan
9	Eritrea	B-	16.5	-1.67	—	—	Sub-Saharan Africa
10	Myanmar	B-	16.7	-1.67	$1,176	63%	East Asia & Pacific
11	Central African Republic	B-	17.5	-1.62	$651	52.5%	Sub-Saharan Africa
12	Congo, Dem. Rep.	B-	18.3	-1.58	$801	14.6%	Sub-Saharan Africa
13	Korea, Dem. People's Rep.	B-	18.5	-1.57	—	—	East Asia & Pacific
14	Iraq	B-	19.3	-1.54	$5,873	58%	Middle East, North Africa, Afghanistan & Pakistan
15	Haiti	B-	19.9	-1.51	$2,444	10%	Latin America & Caribbean
16	Lebanon	B	21.1	-1.19	$5,282	163.8%	Middle East, North Africa, Afghanistan & Pakistan
17	Chad	B	21.8	-1.41	$1,209	32.5%	Sub-Saharan Africa
18	Iran, Islamic Rep.	B	22.8	-1.36	$4,250	36.4%	Middle East, North Africa, Afghanistan & Pakistan
19	Turkmenistan	B	23.7	-1.36	$11,387	3.6%	Europe & Central Asia
20	Equatorial Guinea	B	24.6	-1.27	$8,378	38.1%	Sub-Saharan Africa
21	Burundi	B	24.9	-1.26	$618	40.9%	Sub-Saharan Africa
22	Mali	B+	25.3	-1.23	$1,094	48%	Sub-Saharan Africa
23	Zimbabwe	B+	26.4	-1.18	$3,127	41.6%	Sub-Saharan Africa
24	Tajikistan	B+	27.6	-1.12	$1,799	22.9%	Europe & Central Asia
25	Cameroon	B+	28.4	-1.08	$2,195	36.3%	Sub-Saharan Africa
26	Belarus	B+	28.6	-1.12	$10,016	36.7%	Europe & Central Asia
27	Pakistan	B+	29.2	-1.04	$1,707	71.3%	Middle East, North Africa, Afghanistan & Pakistan
28	Russian Federation	B+	29.2	-1.09	$17,287	24.8%	Europe & Central Asia
29	Comoros	B+	29.5	-1.02	$1,904	32.6%	Sub-Saharan Africa
30	Nicaragua	B+	29.5	-1.02	$3,084	40.1%	Latin America & Caribbean
31	Congo, Rep.	B+	29.8	-1.01	$2,542	89.9%	Sub-Saharan Africa
32	Guinea-Bissau	B+	29.8	-1.01	$1,342	74%	Sub-Saharan Africa
33	Guinea	B+	29.9	-1	$1,909	38.1%	Sub-Saharan Africa
34	Nigeria	B+	29.9	-1.01	$1,378	35%	Sub-Saharan Africa
35	Ethiopia	BB-	30.1	-0.99	$1,124	41.1%	Sub-Saharan Africa
36	West Bank and Gaza	BB-	30.6	-0.97	—	—	Middle East, North Africa, Afghanistan & Pakistan
37	Djibouti	BB-	32.1	-0.89	$4,681	28%	Middle East, North Africa, Afghanistan & Pakistan
38	Mozambique	BB-	32.9	-0.86	$720	99.9%	Sub-Saharan Africa
39	Kyrgyz Republic	BB-	33	-0.85	$2,925	38.3%	Europe & Central Asia
40	Niger	BB-	33	-0.85	$864	41.4%	Sub-Saharan Africa
41	Burkina Faso	BB-	33.1	-0.84	$1,246	51.7%	Sub-Saharan Africa
42	Bangladesh	BB-	33.7	-0.82	$2,960	40.2%	South Asia
43	Madagascar	BB-	34	-0.8	$653	50.9%	Sub-Saharan Africa
44	Gabon	BB-	34.6	-0.77	$9,647	82%	Sub-Saharan Africa
45	Angola	BB-	34.8	-0.76	$2,701	63.2%	Sub-Saharan Africa
46	Eswatini	BB	35.1	-0.74	$4,610	43.5%	Sub-Saharan Africa
47	Honduras	BB	35.1	-0.74	$3,699	44.1%	Latin America & Caribbean
48	Algeria	BB	35.2	-0.74	$5,956	62.2%	Middle East, North Africa, Afghanistan & Pakistan
49	Bolivia	BB	35.2	-0.74	$4,585	93.7%	Latin America & Caribbean
50	Mauritania	BB	35.4	-0.73	$2,717	40.6%	Sub-Saharan Africa
51	Cambodia	BB	35.5	-0.73	$2,939	29.3%	East Asia & Pacific
52	Ukraine	BB	35.6	-0.62	$6,718	110.4%	Europe & Central Asia
53	Liberia	BB	35.8	-0.71	$956	54.2%	Sub-Saharan Africa
54	Lao PDR	BB	36	-0.7	$2,254	84.7%	East Asia & Pacific
55	Guatemala	BB	36.1	-0.69	$6,851	27.8%	Latin America & Caribbean
56	Sierra Leone	BB	36.1	-0.69	$1,033	38.6%	Sub-Saharan Africa
57	Egypt, Arab Rep.	BB	36.4	-0.68	$3,579	85%	Middle East, North Africa, Afghanistan & Pakistan
58	Azerbaijan	BB	36.5	-0.67	$7,624	23.5%	Europe & Central Asia
59	Uganda	BB	36.7	-0.66	$1,458	53%	Sub-Saharan Africa
60	Togo	BB	36.8	-0.66	$1,215	70.6%	Sub-Saharan Africa
61	Uzbekistan	BB	36.8	-0.66	$4,136	31%	Europe & Central Asia
62	Cuba	BB	38.8	-0.56	—	—	Latin America & Caribbean
63	Ecuador	BB	39.3	-0.54	$7,384	53.8%	Latin America & Caribbean
64	Papua New Guinea	BB	39.6	-0.52	$2,560	50%	East Asia & Pacific
65	Turkiye	BB	39.8	-0.56	$18,232	25.1%	Europe & Central Asia
66	Kenya	BB+	40.5	-0.48	$2,596	70.1%	Sub-Saharan Africa
67	Lesotho	BB+	40.6	-0.47	$1,024	57.1%	Sub-Saharan Africa
68	Nepal	BB+	41	-0.45	$1,658	49.9%	South Asia
69	Mexico	BB+	41.2	-0.49	$15,111	59.9%	Latin America & Caribbean
70	Zambia	BB+	41.3	-0.34	$1,523	114.9%	Sub-Saharan Africa
71	Sri Lanka	BB+	41.4	-0.33	$4,325	100.8%	South Asia
72	Malawi	BB+	41.5	-0.43	$721	78.3%	Sub-Saharan Africa
73	Bosnia and Herzegovina	BB+	41.9	-0.45	$10,546	31.6%	Europe & Central Asia
74	Tanzania	BB+	42.3	-0.39	$1,378	48.3%	Sub-Saharan Africa
75	Cote d'Ivoire	BB+	42.5	-0.38	$3,294	54.1%	Sub-Saharan Africa
76	Tunisia	BB+	42.5	-0.37	$4,826	82.6%	Middle East, North Africa, Afghanistan & Pakistan
77	Paraguay	BB+	43.1	-0.34	$7,324	40.6%	Latin America & Caribbean
78	China	BB+	43.2	-0.29	$14,730	102.3%	East Asia & Pacific
79	Viet Nam	BB+	43.2	-0.34	$4,965	31.8%	East Asia & Pacific
80	Gambia, The	BB+	43.5	-0.32	$925	70%	Sub-Saharan Africa
81	Peru	BB+	43.6	-0.32	$9,398	33.6%	Latin America & Caribbean
82	Timor-Leste	BB+	44.3	-0.28	$1,547	14.7%	East Asia & Pacific
83	Benin	BB+	44.5	-0.27	$1,788	49.6%	Sub-Saharan Africa
84	El Salvador	BB+	44.5	-0.28	$5,933	86.9%	Latin America & Caribbean
85	Morocco	BB+	44.6	-0.27	$5,154	66.6%	Middle East, North Africa, Afghanistan & Pakistan
86	Kazakhstan	BBB-	45.1	-0.3	$15,527	26.4%	Europe & Central Asia
87	Sao Tome and Principe	BBB-	45.1	-0.25	$4,591	45.4%	Sub-Saharan Africa
88	Suriname	BBB-	45.3	-0.23	$7,300	82.7%	Latin America & Caribbean
89	Brazil	BBB-	45.4	-0.28	$10,709	95%	Latin America & Caribbean
90	Kosovo	BBB-	45.7	-0.21	—	—	Europe & Central Asia
91	Colombia	BBB-	45.8	-0.21	$8,644	61.9%	Latin America & Caribbean
92	Philippines	BBB-	45.9	-0.2	$4,619	58.8%	East Asia & Pacific
93	Maldives	BBB-	46.1	-0.15	$19,682	135.9%	South Asia
94	Solomon Islands	BBB-	46.2	-0.19	$2,522	25.1%	East Asia & Pacific
95	Senegal	BBB-	46.3	-0.08	$2,030	124.3%	Sub-Saharan Africa
96	Armenia	BBB-	46.8	-0.16	$9,393	54.1%	Europe & Central Asia
97	Argentina	BBB-	46.9	-0.2	$13,895	73.6%	Latin America & Caribbean
98	Moldova	BBB-	46.9	-0.16	$8,984	39.2%	Europe & Central Asia
99	Thailand	BBB-	47.9	-0.11	$7,979	66.7%	East Asia & Pacific
100	Guyana	BBB-	48	-0.25	$34,307	29.3%	Latin America & Caribbean
101	South Africa	BBB-	48	-0.1	$6,835	79.5%	Sub-Saharan Africa
102	Belize	BBB-	48.2	-0.09	$8,116	63.5%	Latin America & Caribbean
103	Mongolia	BBB-	48.4	-0.08	$7,320	49.7%	East Asia & Pacific
104	India	BBB-	48.7	-0.06	$3,051	80.8%	South Asia
105	Serbia	BBB-	49.4	-0.08	$17,292	44.2%	Europe & Central Asia
106	Ghana	BBB-	49.7	-0.01	$3,179	56.1%	Sub-Saharan Africa
107	Indonesia	BBB-	49.9	0	$5,398	41.1%	East Asia & Pacific
108	Jordan	BBB-	49.9	0	$5,149	87.5%	Middle East, North Africa, Afghanistan & Pakistan
109	North Macedonia	BBB	51.6	0.03	$11,527	53.9%	Europe & Central Asia
110	Trinidad and Tobago	BBB	51.6	0.03	$18,562	68.5%	Latin America & Caribbean
111	Albania	BBB	51.9	0.05	$12,147	52.7%	Europe & Central Asia
112	Dominican Republic	BBB	52	0.05	$12,605	58.9%	Latin America & Caribbean
113	Panama	BBB	52	-0.05	$20,754	60.3%	Latin America & Caribbean
114	Rwanda	BBB	52	0.1	$1,069	74.8%	Sub-Saharan Africa
115	Bahrain	BBB	53.2	0.11	$29,778	146.4%	Middle East, North Africa, Afghanistan & Pakistan
116	Vanuatu	BBB	53.3	0.17	$3,185	51.5%	East Asia & Pacific
117	Jamaica	BBB	53.9	0.19	$8,756	57.4%	Latin America & Caribbean
118	Montenegro	BBB	54	0.15	$16,380	61.6%	Europe & Central Asia
119	Oman	BBB	54.7	0.19	$19,182	33%	Middle East, North Africa, Afghanistan & Pakistan
120	Saudi Arabia	BBB+	55.1	0.11	$35,839	31.8%	Middle East, North Africa, Afghanistan & Pakistan
121	Kuwait	BBB+	55.3	0.12	$31,242	10.7%	Middle East, North Africa, Afghanistan & Pakistan
122	Namibia	BBB+	55.5	0.28	$5,182	63.3%	Sub-Saharan Africa
123	Tonga	BBB+	55.6	0.28	$6,221	37.8%	East Asia & Pacific
124	Bulgaria	BBB+	56.5	0.17	$22,896	29.9%	Europe & Central Asia
125	Fiji	BBB+	57.1	0.36	$7,170	79.8%	East Asia & Pacific
126	Nauru	BBB+	58.1	0.35	$14,959	13%	East Asia & Pacific
127	Romania	BBB+	58.3	0.26	$23,768	62.5%	Europe & Central Asia
128	Georgia	BBB+	58.4	0.37	$10,886	33.4%	Europe & Central Asia
129	Greece	BBB+	58.6	0.38	$29,412	141.9%	Europe & Central Asia
130	Puerto Rico (US)	BBB+	58.8	0.29	$40,707	18.7%	Latin America & Caribbean
131	Kiribati	BBB+	59.4	0.47	$2,615	16.5%	East Asia & Pacific
132	Cabo Verde	BBB+	59.7	0.58	$6,069	101%	Sub-Saharan Africa
133	Bhutan	BBB+	59.8	0.59	$4,710	121.1%	South Asia
134	Malaysia	BBB+	59.9	0.44	$14,762	70.5%	East Asia & Pacific
135	Marshall Islands	A-	60.2	0.51	$9,391	14.9%	East Asia & Pacific
136	Hungary	A-	60.4	0.37	$28,304	75.5%	Europe & Central Asia
137	Micronesia, Fed. Sts.	A-	60.8	0.54	$5,492	6.8%	East Asia & Pacific
138	Tuvalu	A-	61.4	0.57	$6,137	3.6%	East Asia & Pacific
139	Botswana	A-	61.8	0.59	$7,379	44.8%	Sub-Saharan Africa
140	Grenada	A-	61.8	0.54	$13,041	65.5%	Latin America & Caribbean
141	St. Lucia	A-	62.7	0.58	$15,163	77.2%	Latin America & Caribbean
142	St. Vincent and the Grenadines	A-	62.8	0.59	$11,663	90.5%	Latin America & Caribbean
143	Croatia	A-	63.2	0.51	$29,368	57.4%	Europe & Central Asia
144	Samoa	A-	63.2	0.66	$6,253	17.7%	East Asia & Pacific
145	Dominica	A-	63.7	0.63	$10,459	92.5%	Latin America & Caribbean
146	Slovak Republic	A-	63.7	0.54	$31,026	63.2%	Europe & Central Asia
147	Virgin Islands (U.S.)	A-	63.9	0.69	—	—	Latin America & Caribbean
148	Antigua and Barbuda	A-	64	0.55	$23,117	63.8%	Latin America & Caribbean
149	Italy	A-	64	0.65	$45,883	138.3%	Europe & Central Asia
150	Poland	A-	64.4	0.57	$30,651	65.8%	Europe & Central Asia
151	St. Kitts and Nevis	A-	64.7	0.59	$23,071	67.5%	Latin America & Caribbean
152	Bahamas, The	A-	65	0.6	$40,409	72.9%	Latin America & Caribbean
153	Israel	A	65.2	0.51	$64,275	70.4%	Middle East, North Africa, Afghanistan & Pakistan
154	Chile	A	65.6	0.73	$17,876	43.7%	Latin America & Caribbean
155	Mauritius	A	65.7	0.74	$13,362	87.4%	Sub-Saharan Africa
156	Cyprus	A	65.9	0.64	$45,601	53.7%	Europe & Central Asia
157	Costa Rica	A	66	0.65	$20,134	59.5%	Latin America & Caribbean
158	Seychelles	A	67.1	0.7	$21,940	58.4%	Sub-Saharan Africa
159	Malta	A	67.2	0.61	$53,082	47.3%	Middle East, North Africa, Afghanistan & Pakistan
160	Spain	A	67.6	0.73	$40,582	98.7%	Europe & Central Asia
161	Qatar	A	67.8	0.64	$76,534	38.8%	Middle East, North Africa, Afghanistan & Pakistan
162	Guam	A	67.9	0.89	—	—	East Asia & Pacific
163	Palau	A	68.1	0.76	$20,718	59%	East Asia & Pacific
164	United Arab Emirates	A	68.9	0.7	$53,842	31.9%	Middle East, North Africa, Afghanistan & Pakistan
165	American Samoa	A	69	0.95	—	—	East Asia & Pacific
166	Cayman Islands	A	69.5	0.98	—	—	Latin America & Caribbean
167	Barbados	A	69.6	0.83	$27,175	94.6%	Latin America & Caribbean
168	Brunei Darussalam	A+	70.3	0.87	$35,414	2.3%	East Asia & Pacific
169	Latvia	A+	70.3	0.87	$28,024	47.4%	Europe & Central Asia
170	Bermuda	A+	70.4	1.02	—	—	North America
171	Portugal	A+	71.1	0.91	$33,972	86.9%	Europe & Central Asia
172	Slovenia	A+	71.3	0.91	$40,164	66.4%	Europe & Central Asia
173	Macao SAR, China	A+	71.9	0.85	$77,443	—	East Asia & Pacific
174	United States	A+	72.9	0.99	$92,883	128.7%	North America
175	Uruguay	A+	73.2	1.01	$26,041	68.3%	Latin America & Caribbean
176	France	A+	73.5	1.03	$51,708	119.6%	Europe & Central Asia
177	Korea, Rep.	A+	73.5	1.02	$37,523	56.7%	East Asia & Pacific
178	Aruba	A+	73.6	1.03	$41,026	63.9%	Latin America & Caribbean
179	Lithuania	A+	73.8	1.04	$36,225	45.9%	Europe & Central Asia
180	Czechia	A+	74.2	1.06	$38,373	45.7%	Europe & Central Asia
181	Greenland	A+	74.8	1.24	—	—	Europe & Central Asia
182	Belgium	A+	74.9	1.09	$63,896	110.6%	Europe & Central Asia
183	Japan	A+	75	1.35	$36,391	226.8%	East Asia & Pacific
184	Hong Kong SAR, China	AA-	76.4	1.07	$58,999	14%	East Asia & Pacific
185	Monaco	AA-	76.5	1.32	—	—	Europe & Central Asia
186	United Kingdom	AA-	77.5	1.23	$60,011	104.8%	Europe & Central Asia
187	Estonia	AA-	78.1	1.26	$37,195	27.5%	Europe & Central Asia
188	San Marino	AA-	79.3	1.22	$69,493	61.8%	Europe & Central Asia
189	Austria	AA	80.7	1.28	$65,640	83%	Europe & Central Asia
190	Germany	AA	81.4	1.32	$63,600	66%	Europe & Central Asia
191	Canada	AA	81.7	1.43	$58,244	113%	North America
192	Andorra	AA	82.1	1.36	$51,681	30.7%	Europe & Central Asia
193	Singapore	AA	82.6	1.63	$99,042	176.3%	East Asia & Pacific
194	Iceland	AA	84.2	1.46	$108,591	44.9%	Europe & Central Asia
195	Ireland	AA	84.8	1.49	$135,247	31.5%	Europe & Central Asia
196	Netherlands	AA+	85.5	1.52	$77,881	45.2%	Europe & Central Asia
197	Australia	AA+	85.9	1.54	$69,358	50.7%	East Asia & Pacific
198	Sweden	AA+	85.9	1.55	$66,124	35.6%	Europe & Central Asia
199	Liechtenstein	AA+	87.3	1.61	$246,738	0.5%	Europe & Central Asia
200	Norway	AA+	88.4	1.67	$96,580	42.5%	Europe & Central Asia
201	Finland	AA+	88.5	1.67	$59,750	89.1%	Europe & Central Asia
202	Luxembourg	AA+	89	1.7	$154,115	28.1%	Europe & Central Asia
203	New Zealand	AA+	89.3	1.71	$52,181	56.1%	East Asia & Pacific
204	Switzerland	AA+	89.6	1.73	$118,173	36.1%	Europe & Central Asia
205	Denmark	AAA	90.5	1.78	$82,706	29.1%	Europe & Central Asia

Methodology

The SOTW Credit Score is a composite index (0-100) computed from six World Bank Worldwide Governance Indicators: Control of Corruption, Government Effectiveness, Rule of Law, Political Stability, Voice & Accountability, and Regulatory Quality. These are supplemented by GDP per capita (higher income = small bonus) and government debt-to-GDP ratio (very high debt = small penalty).

Unlike S&P, Moody's, or Fitch ratings, the SOTW Score is fully transparent, unsolicited, and based entirely on publicly available data. It is designed to be comparable across countries and updated whenever the World Bank publishes new governance data.

AAA90-100

A60-74

BBB45-59

B15-29