United Kingdom Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Aa3 Stable | AA Stable | AA- Stable | AA Stable | AA Stable |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Mar 22, 2024 | Fitch | AA- | Negative | AA- | Stable | |
| Oct 20, 2023 | Moody's | Aa3 | Stable | Aa3 | Stable | |
| Apr 21, 2023 | S&P | AA | Negative | AA | Stable | |
| Jan 13, 2023 | DBRS | AA (high) | Under Review | AA | Stable | |
| Oct 19, 2022 | DBRS | AA (high) | Stable | AA (high) | Under Review | |
| Oct 05, 2022 | Fitch | AA- | Stable | AA- | Negative | |
| Sep 30, 2022 | S&P | AA | Stable | AA | Negative | |
| Jun 25, 2021 | Scope Ratings | AA | Negative | AA | Stable | |
| Jun 18, 2021 | Fitch | AA- | Negative | AA- | Stable | |
| Nov 13, 2020 | DBRS | AAA | Negative | AA (high) | Stable | |
| Oct 16, 2020 | Moody's | Aa2 | Negative | Aa3 | Stable | |
| May 15, 2020 | DBRS | AAA | Stable | AAA | Negative | |
| Mar 27, 2020 | Fitch | AA | Negative | AA- | Negative | |
| Dec 17, 2019 | S&P | AA | Negative | AA | Stable | |
| Dec 17, 2019 | Fitch | AA | Negative Watch | AA | Negative | |
| Nov 08, 2019 | Moody's | Aa2 | Stable | Aa2 | Negative | |
| Feb 20, 2019 | Fitch | AA | Negative | AA | Negative Watch | |
| Sep 22, 2017 | Moody's | Aa1 | Negative | Aa2 | Stable | |
| Aug 18, 2017 | Scope Ratings | NR | AA | Negative | ||
| Jun 28, 2016 | Fitch | AA+ | Stable | AA | 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 |
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 United Kingdom’s current credit rating?
United Kingdom’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 United Kingdom’s credit risk.
Has United Kingdom’s credit rating changed recently?
This page lists the latest rating and outlook actions for United Kingdom, showing when each agency last reviewed or changed its assessment.
Why does United Kingdom’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence United Kingdom's bond yields, currency, and equity flows as investors reassess risk.
How does United Kingdom’s rating compare to other countries?
You can explore how United Kingdom 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.
Advertisement