Determinants of Sovereign credit rating (credit worthiness) in Iraq.Sovereign credit rating represents the ability of the state to continue servicing its external debt and to meet the obligations of these debts on time without the need to re-quest rescheduling, especially that the determinants may affect on the degree of credit rating, both positive and negative. For Iraq, it has been classified as a low sovereign credit rating by each of the global agencies (Mood y's and Standard &Poor's and Fitch) for (2015-2016), consecutively, that's mean the investment environment in Iraq is below the good level, and between (stable and negative) in terms of the direction of the credit rating. This is due to some factors represented by (High inflation rate and external debt volume, low real GDP growth rate, deficit of both budget and trade balance), resulting in additional costs to its economy like (reputation, market risk, ect.). Therefore, this study aims at studying the conceptual framework of Sovereign credit rating and its determinants .