Fitch cuts Japan's bond rating - How does it compare to others?

Citing a rising public debt ratio and a "leisurely" effort at bringing it under control, Fitch downgraded Japan's debt rating to A+.  As you may remember from the U.S. debt ceiling fight of last year (a fight that may be restarting), three major credit rating agencies (Fitch, Standard & Poors and Moody's) rate the credit worthiness of every country in the world.  The credit worthiness essentially allows investors to judge how safe their money will be when deposited in other countries and institutions.  Credit ratings also affect interest loans that are given to debt.

S&P famously downgraded the United States' credit last year, though Fitch & Moody's held it steady at its highest rating.  Where does the rest of the industrial world lie according to Fitch?  Here's a (abbreviated) look at which countries it thinks are safest and which ones are the riskiest bets.

• AAA:  Australia, Austria, Canada, Denmark, Germany, Luxembourg, Netherlands, Norway, Sweden, Switzerland, United Kingdom, United States
• AA+:  Hong Kong
• AA:  Belgium, New Zealand
• A+:  Chile, China, Japan, South Korea, Taiwan
• A:  Israel, Spain
• A-:  Italy
• BBB:  Brazil, Mexico
• CCC:  Greece

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