Papua New Guinea Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Papua New Guinea	B2 Stable	B- Stable	NR	NR	NR

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Papua New Guinea	Nov 10, 2022	Moody's	B2	Negative	B2	Stable
Papua New Guinea	May 24, 2022	S&P	B-	Negative	B-	Stable
Papua New Guinea	Jun 03, 2021	S&P	B-	Negative Watch	B-	Negative
Papua New Guinea	Apr 30, 2021	S&P	B-	Stable	B-	Negative Watch
Papua New Guinea	Apr 19, 2021	Moody's	B2	Stable	B2	Negative
Papua New Guinea	Apr 29, 2020	S&P	B	Stable	B-	Stable
Papua New Guinea	Feb 15, 2019	Moody's	B2	Negative	B2	Stable
Papua New Guinea	Apr 16, 2018	S&P	B+	Negative	B	Stable
Papua New Guinea	Mar 23, 2018	Moody's	B2	Stable	B2	Negative
Papua New Guinea	Apr 25, 2016	Moody's	B1	Negative Watch	B2	Stable
Papua New Guinea	Feb 25, 2016	Moody's	B1	Negative	B1	Negative Watch
Papua New Guinea	Oct 08, 2015	S&P	B+	Stable	B+	Negative
Papua New Guinea	May 18, 2015	Moody's	B1	Stable	B1	Negative
Papua New Guinea	Oct 29, 2012	S&P	B+	Negative	B+	Stable
Papua New Guinea	Jan 27, 2012	S&P	B+	Stable	B+	Negative
Papua New Guinea	Sep 13, 2007	S&P	B	Stable	B+	Stable
Papua New Guinea	Dec 06, 2005	S&P	B	Positive	B	Stable
Papua New Guinea	Dec 21, 2004	S&P	B	Stable	B	Positive
Papua New Guinea	Dec 21, 2003	S&P	B	Negative	B	Stable
Papua New Guinea	Oct 08, 2002	S&P	B	Stable	B	Negative

Table Key

Grade	Moody's	S&P	Fitch	DBRS	Scope Ratings
Prime	Aaa	AAA	AAA	AAA	AAA
High Grade	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Upper Medium Grade	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Lower Medium Grade	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Non-investment Grade Speculative	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CCC	CC
Extremely Speculative Grade			C	CCC	C
In Default with Little Prospect for Recovery		CD	RD	RD
In Default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Not Rated	NR	NR	NR	NR	NR

FAQ

What is Papua New Guinea’s current credit rating?

Papua New Guinea’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Papua New Guinea’s credit risk.

Has Papua New Guinea’s credit rating changed recently?

This page lists the latest rating and outlook actions for Papua New Guinea, showing when each agency last reviewed or changed its assessment.

Why does Papua New Guinea’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Papua New Guinea's bond yields, currency, and equity flows as investors reassess risk.

How does Papua New Guinea’s rating compare to other countries?

You can explore how Papua New Guinea ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.