One of the most important aspects of the state economic security is the condition of the financial system. Credit ratings are widely used tool for evaluation of financial stability. Those are assigned by number of international agencies and are based on analysis of numerous economical and financial indices. The question “in what extent credit ratings reflects financial independence of the state” is addressed in the present work. Because of weak correlation between percent of the foreign debt and credit rating one may suspect the latter as insensitive indicator of the financial security of the country. Thus, one could recommend inclusion of the ratio between foreign and total governmental debt in the list of the state economic and financial parameters.