Norway Credit Ratings & Outlooks

Country
Moody's
S&P
Fitch
DBRS
Scope Ratings
Norway
Aaa
Stable
AAA
Stable
AAA
Stable
AAA
Stable
AAA
Stable

Credit Rating History

Country
Date of Change
Rating Agency
Previous Rating
Previous Outlook
Current Rating
Current Outlook
Norway
Aug 18, 2017Scope RatingsNRAAAStable
Norway
Mar 21, 2012DBRSNRAAAStable
Norway
Sep 21, 2000FitchAAAAAAStable
Norway
Sep 30, 1997Moody'sAa1StableAaaStable
Norway
Mar 13, 1995FitchNRAAA
Norway
Nov 08, 1990S&PAAANegativeAAAStable
Norway
Jun 26, 1989S&PAAAAAANegative
Norway
Jul 13, 1987Moody'sAaaStableAa1Stable
Norway
Jan 12, 1978Moody'sNRAaaStable
Norway
Jul 09, 1975S&PBBBAAA
Norway
Sep 09, 1958S&PNRBBB

Table Key

GradeMoody'sS&PFitchDBRSScope 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
Norway’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 Norway’s credit risk.
This page lists the latest rating and outlook actions for Norway, showing when each agency last reviewed or changed its assessment.
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Norway's bond yields, currency, and equity flows as investors reassess risk.
You can explore how Norway ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
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
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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