Rating

As of 2014, the Debt Office does not, in the capacity of issuer, have any commercial relationships with the rating agencies. Hence, ratings of Kingdom of Sweden are not based on requests by the Debt Office. The rating agencies determine the formal status of the rating. In general, ratings as of 2014 relate to the Kingdom of Sweden as an issuer, not to individual government securities.

Rating scales

Rating agencies use different scales of rankings for short-term and long-term debt liabilities. They also have separate ratings for domestic and foreign currency borrowing. The scale of ratings in the table refers to long-term borrowing and investment grade, i.e. investments with high to highest credit rating (Aaa and AAA). The level below is speculative grade, investments with a possible to high risk that the borrower cannot make payments. 

Rating agencies

• Standard & Poor's 
• Moody's 
• Fitch