(This story was updated to also include Singapore as an issuer with Triple-A ratings.)
It’s truly an elite — and virtually all European — group of sovereign issuers that have pristine Triple-A credit ratings.
The decision by Fitch Ratings to lower the U.S. credit rating didn’t actually alter that list, since S&P beat its rival agency to the punch in downgrading America’s debt by more than a decade. But the move puts into focus just how rare it is for a country to enjoy the highest rating across all three major agencies.
Not that any of these countries are about to replace the U.S. as home to the world’s go-to safety security. Though the yield on the 10-year Treasury
BX:TMUBMUSD10Y
rose on Wednesday, which means that bonds fell in value, the movement came not after the downgrade but after unexpectedly strong jobs-market data, from ADP.
Germany has some €1.1 trillion ($1.2 trillion) in outstanding government debt, about 4% of the size of the U.S. government bond market.
| Country | S&P | Moody’s | Fitch |
| Germany | AAA | Aaa | AAA |
| Denmark | AAA | Aaa | AAA |
| Netherlands | AAA | Aaa | AAA |
| Norway | AAA | Aaa | AAA |
| Singapore | AAA | Aaa | AAA |
| Sweden | AAA | Aaa | AAA |
| Switzerland | AAA | Aaa | AAA |
| Australia | AAA | Aaa | AAA |
| Canada | AAA | Aaa | AA+ |
| New Zealand | AAA | Aaa | AA+ |
| United States | AA+ | Aaa | AA+ |
| Austria | AA+ | Aa1 | AA+ |
| Finland | AA+ | Aa1 | AA+ |
| Hong Kong, China | AA+ | Aa3 | AA- |
| Estonia | AA- | A1 | A+ |
| Slovenia | AA- | A3 | A |
| Israel | AA- | A1 | A+ |
| United Kingdom | AA | Aa3 | AA- |
| France | AA | Aa2 | AA- |
| Belgium | AA | Aa3 | AA- |
| Government of Czech Republic | AA | Aa3 | AA- |
| Ireland | AA | Aa3 | AA- |
| South Korea | AA | Aa2 | AA- |
| Abu Dhabi | AA | Aa2 | AA |
| Qatar | AA | Aa3 | AA- |
| Source: FactSet/Fitch | |||
Read the full article here
