Kuwait Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
A1 Stable | AA- Stable | AA- Stable | NR | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Nov 21, 2025 | S&P | A+ | Stable | AA- | Stable | |
| Jul 15, 2022 | S&P | A+ | Negative | A+ | Stable | |
| Jan 27, 2022 | Fitch | AA | Negative | AA- | Stable | |
| Jul 16, 2021 | S&P | AA- | Negative | A+ | Negative | |
| Feb 02, 2021 | Fitch | AA | Stable | AA | Negative | |
| Sep 22, 2020 | Moody's | Aa2 | Under Review | A1 | Stable | |
| Jul 17, 2020 | S&P | AA- | Stable | AA- | Negative | |
| Mar 30, 2020 | Moody's | Aa2 | Stable | Aa2 | Under Review | |
| Mar 26, 2020 | S&P | AA | Stable | AA- | Stable | |
| May 26, 2017 | Moody's | Aa2 | Negative | Aa2 | Stable | |
| May 14, 2016 | Moody's | Aa2 | Negative Watch | Aa2 | Negative | |
| Mar 04, 2016 | Moody's | Aa2 | Stable | Aa2 | Negative Watch | |
| Nov 21, 2011 | Fitch | AA | Stable | AA | Stable | |
| Jul 20, 2011 | S&P | AA- | Stable | AA | Stable | |
| Aug 05, 2010 | Moody's | Aa2 | Negative | Aa2 | Stable | |
| Jun 09, 2009 | Moody's | Aa2 | Negative Watch | Aa2 | Negative | |
| Mar 19, 2009 | Moody's | Aa2 | Stable | Aa2 | Negative Watch | |
| Sep 04, 2008 | Fitch | AA- | Stable | AA | Stable | |
| Jul 25, 2007 | Moody's | Aa3 | Stable | Aa2 | Stable | |
| Jul 16, 2007 | S&P | A+ | Stable | 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 | CCC | CC |
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 Kuwait’s current credit rating?
Kuwait’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 Kuwait’s credit risk.
Has Kuwait’s credit rating changed recently?
This page lists the latest rating and outlook actions for Kuwait, showing when each agency last reviewed or changed its assessment.
Why does Kuwait’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Kuwait's bond yields, currency, and equity flows as investors reassess risk.
How does Kuwait’s rating compare to other countries?
You can explore how Kuwait 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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