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Australia Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Aaa Stable | AAA Stable | AAA Stable | AAA Stable | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Nov 04, 2024 | Fitch | AAA | Stable | AAA | Stable | |
| Oct 13, 2021 | Fitch | AAA | Negative | AAA | Stable | |
| Jun 06, 2021 | S&P | AAA | Negative | AAA | Stable | |
| May 21, 2020 | Fitch | AAA | Stable | AAA | Negative | |
| Apr 08, 2020 | S&P | AAA | Stable | AAA | Negative | |
| Sep 21, 2018 | S&P | AAA | Negative | AAA | Stable | |
| Jul 06, 2016 | S&P | AAA | Stable | AAA | Negative | |
| Jul 31, 2014 | DBRS | NR | — | AAA | Stable | |
| Nov 28, 2011 | Fitch | AA+ | Stable | AAA | Stable | |
| Feb 16, 2003 | S&P | AA+ | Stable | AAA | Stable | |
| Feb 03, 2003 | Fitch | AA | Stable | AA+ | Stable | |
| Oct 20, 2002 | Moody's | Aa2 | Stable | Aaa | Stable | |
| Sep 21, 2000 | Fitch | AA | — | AA | Stable | |
| May 17, 1999 | S&P | AA | Positive | AA+ | Stable | |
| Nov 19, 1998 | Fitch | AA | Negative Watch | AA | — | |
| Jun 18, 1998 | Fitch | AA | — | AA | Negative Watch | |
| Aug 21, 1996 | S&P | AA | Stable | AA | Positive | |
| Jan 25, 1996 | Fitch | NR | — | AA | — | |
| Sep 03, 1993 | S&P | AA | Negative | AA | Stable |
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 | CC | CC |
C | CC | 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 Australia’s current credit rating?
Australia’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 Australia’s credit risk.
Has Australia’s credit rating changed recently?
This page lists the latest rating and outlook actions for Australia, showing when each agency last reviewed or changed its assessment.
Why does Australia’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Australia's bond yields, currency, and equity flows as investors reassess risk.
How does Australia’s rating compare to other countries?
You can explore how Australia 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.
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