International rating agencies such as S&P Ratings, Moody's Ratings, and Fitch Ratings periodically issue credit ratings to assess a country's debt. Credit ratings reflect an assessment of the government's ability and willingness to meet its debt payment obligations on time, including principal and interest payments.
The assessment is based on several indicators, ranging from the country's economic strength to other conditions. Factors considered include foreign exchange reserves, current account balance, financial system stability, and the quality of government governance.
