Singapore - AAA

Debt/GDP =1,18 (118%)
Accumulated deficit for last 5 years/budget income for last 5 years = -0,25 (Surplus) 
Years since last default = 67 (Occupied during WW2 - till 1945)
5-year inflation = 0,20 (20%)
Budget expences/GDP = 0,14
Trade deficit/GDP = -0,154 (surplus)
World GDP per capita/Country GDP per capita = 0,17
Political factor = 0,2
Crisis factor = 0,4 (Involved in Afghanistan war)
Other unique factors = 1,1

OVERALL CREDIT SCORE: 1,26 (126%). This responds to AAA.

(This is one of the very rare cases with a rating above 100%. This is not strange, it is real. Singapore has a trade and budget surplus and very high nominal GDP per capita. It is a stable and neutral country. So it is a dream-debtor. Generally this rating means that it is good to lend money to a rich and wise country...)

Calculated with this (new) formula:

r = 10/{[1+(debt/GDP)] + [1+10*(accumulated deficit for last 5 years/budget income for last 5 years)] + [1 + (10/years since last default)] + [1+3*(accumulated of last 5 years inflation)] + [1+(budget expences/GDP)] + [1+ 10* (trade deficit/GDP)] + [world's GDP per capita/country's GDP per capita] + [1+political factor] + [1+crisis factor] + [Other unique factors]}
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