Jan 14, 2025 -… Notably, Slovakia (6.6% of GVA from the automotive sector in 2023), the Czech Republic (5.6%), Hungary (4.5%), and Romania (4.5%) are key exporters of vehicles and auto components to Western European markets. …

Dec 19, 2024 -… Sovereign Ratings Table 1 Sovereigns (sorted by publication date) Rated entity First publication date Second publication date Third publication date Congo (the Democratic Republic of the) Jan. 24, 2025 Jul. 25, 2025 Congo-Brazzaville Jan. 24, 2025 Jul. 25, 2025 Luxembourg Jan. 24, 2025 Jul. 25, 2025 North Macedonia Jan. 24, 2025 Jul. 25, 2025 Romania Jan. 24, 2025 Apr. 11, 2025 Oct. 10, 2025 European Financial Stability Facility Jan. 31, 2025 Aug. 1, 2025 European Stability Mechanism Jan. 31, 2025 Aug. 1, 2025 Germany* Jan. 31, 2025 Jun. 13, 2025 Dec. 5, 2025 Nigeria Jan. 31, 2025 May. 16, 2025 Nov. 14, 2025 San Marino Jan. 31, 2025 Aug. 1, 2025 Sweden* Jan. 31, 2025 Jun. 13, 2025 Dec. 5, 2025 Denmark* Feb. 7, 2025 Aug. 8, 2025 Georgia (Government of) Feb. 7, 2025 Aug. 8, 2025 Guernsey Feb. 7, 2025 Aug. 8, 2025 Iraq Feb. 7, 2025 Aug. 8, 2025 Jersey (States of) Feb. 7, 2025 Aug. 8, 2025 Switzerland* Feb. 7, 2025 Aug. 8, 2025 Angola Feb. 14, 2025 Aug. 15, 2025 Austria Feb. 14, 2025 Aug. 8, 2025 Cape Verde Feb. 14, 2025 Aug. 8, 2025 Lebanon Feb. 14, 2025 Aug. 15, 2025 Tajikistan Feb. 14, 2025 Aug. 15, 2025 Armenia Feb. 21, 2025 Aug. 22, 2025 Bosnia and Herzegovina Feb. 21, 2025 Aug. 1, 2025 Kazakhstan Feb. 21, 2025 Aug. 22, 2025 Kenya Feb. 21, 2025 Aug. 22, 2025 France* Feb. 28, 2025 May 30, 2025 Nov. 28, 2025 Montenegro Feb. 28, 2025 Aug. 29, 2025 Portugal* Feb. 28, 2025 Aug. 29, 2025 Iceland Mar. 7, 2025 Sep. 5, 2025 Jordan Mar. 7, 2025 Aug. 29, 2025 Norway* Mar. 7, 2025 Sep. 5, 2025 Ukraine Mar. 7, 2025 Sep. 5, 2025 Botswana Mar. 14, 2025 Sep. 12, 2025 Chad Mar. 14, 2025 Sep. 12, 2025 Croatia Mar. 14, 2025 Sep. 12, 2025 Saudi Arabia* Mar. 14, 2025 Sep. 12, 2025 Spain* Mar. 14, 2025 Sep. 12, 2025 Albania Mar. 21, 2025 Sep. 19, 2025 Cameroon Mar. 21, 2025 Sep. 19, 2025 Ethiopia Mar. 21, 2025 Sep. 19, 2025 Ireland Mar. 21, 2025 Sep. 19, 2025 St Helena Mar. 21, 2025 Sep. 19, 2025 Czech Republic Mar. 28, 2025 Sep. 26, 2025 Morocco Mar. 28, 2025 Sep. 26, 2025 Oman Mar. 28, 2025 Sep. 26, 2025 Madagascar Apr. 4, 2025 Oct. 3, 2025 Serbia Apr. 4, 2025 Oct. 3, 2025 Egypt Apr. 11, 2025 Oct. 10, 2025 Hungary Apr. 11, 2025 Oct. 10, 2025 Italy* Apr. 11, 2025 Oct. 10, 2025 Mozambique Apr. 11, 2025 Oct. 10, 2025 United Kingdom* Apr. 11, 2025 Oct. 10, 2025 Benin Apr. 18, 2025 Oct. 17, 2025 Greece Apr. 18, 2025 Oct. 17, 2025 Netherlands* Apr. 18, 2025 Oct. 17, 2025 Togo Apr. 18, 2025 Oct. 17, 2025 Belgium* Apr. 25, 2025 Oct. 24, 2025 Finland Apr. 25, 2025 Oct. 24, 2025 Mauritius Apr. 25, 2025 Oct. 24, 2025 Slovakia Apr. 25, 2025 Oct. 24, 2025 Turkiye* Apr. 25, 2025 Oct. 17, 2025 Qatar May. 2, 2025 Oct. 31, 2025 Andorra May. 9, 2025 Nov. 7, 2025 Burkina Faso May. 9, 2025 Nov. 7, 2025 Ghana May. 9, 2025 Nov. 7, 2025 Israel May. 9, 2025 Nov. 7, 2025 Poland May. 9, 2025 Nov. 7, 2025 Uganda May. 9, 2025 Nov. 7, 2025 Cote d'Ivoire May. 16, 2025 Nov. 14, 2025 Cyprus May. 16, 2025 Nov. 14, 2025 Rwanda May. 16, 2025 Nov. 14, 2025 Senegal May. 16, 2025 Nov. 14, 2025 Sharjah (Emirate of) May. 16, 2025 Nov. 14, 2025 South Africa May. 16, 2025 Nov. 14, 2025 Abu Dhabi (Emirate of) May. 23, 2025 Nov. 21, 2025 Bahrain May. 23, 2025 Nov. 21, 2025 Bulgaria May. 23, 2025 Nov. 21, 2025 Kuwait May. 23, 2025 Nov. 21, 2025 Liechtenstein May. 23, 2025 Nov. 21, 2025 Ras Al Khaimah (Emirate of) May. 23, 2025 Nov. 21, 2025 Uzbekistan May. 23, 2025 Nov. 21, 2025 Zambia May. 23, 2025 Nov. 21, 2025 Estonia May. 30, 2025 Nov. 28, 2025 Latvia May. 30, 2025 Nov. 28, 2025 Lithuania May. 30, 2025 Nov. 28, 2025 Azerbaijan Jun. 6, 2025 Dec. 5, 2025 Malta Jun. 6, 2025 Dec. 5, 2025 Slovenia Jun. 6, 2025 Nov. 21, 2025 *Unsolicited ratings. Table 2 Sovereigns (sorted alphabetically) Rated entity First publication date Second publication date Third publication date Abu Dhabi (Emirate of) May. 23, 2025 Nov. 21, 2025 Albania Mar. 21, 2025 Sep. 19, 2025 Andorra May. 9, 2025 Nov. 7, 2025 Angola Feb. 14, 2025 Aug. 15, 2025 Armenia Feb. 21, 2025 Aug. 22, 2025 Austria Feb. 14, 2025 Aug. 8, 2025 Azerbaijan Jun. 6, 2025 Dec. 5, 2025 Bahrain May. 23, 2025 Nov. 21, 2025 Belgium* Apr. 25, 2025 Oct. 24, 2025 Benin Apr. 18, 2025 Oct. 17, 2025 Bosnia and Herzegovina Feb. 21, 2025 Aug. 1, 2025 Botswana Mar. 14, 2025 Sep. 12, 2025 Bulgaria May. 23, 2025 Nov. 21, 2025 Burkina Faso May. 9, 2025 Nov. 7, 2025 Cameroon Mar. 21, 2025 Sep. 19, 2025 Cape Verde Feb. 14, 2025 Aug. 8, 2025 Chad Mar. 14, 2025 Sep. 12, 2025 Congo (the Democratic Republic of the) Jan. 24, 2025 Jul. 25, 2025 Congo-Brazzaville Jan. 24, 2025 Jul. 25, 2025 Cote d'Ivoire May. 16, 2025 Nov. 14, 2025 Croatia Mar. 14, 2025 Sep. 12, 2025 Cyprus May. 16, 2025 Nov. 14, 2025 Czech Republic Mar. 28, 2025 Sep. 26, 2025 Denmark* Feb. 7, 2025 Aug. 8, 2025 Egypt Apr. 11, 2025 Oct. 10, 2025 Estonia May. 30, 2025 Nov. 28, 2025 Ethiopia Mar. 21, 2025 Sep. 19, 2025 European Financial Stability Facility Jan. 31, 2025 Aug. 1, 2025 European Stability Mechanism Jan. 31, 2025 Aug. 1, 2025 Finland Apr. 25, 2025 Oct. 24, 2025 France* Feb. 28, 2025 May. 30, 2025 Nov. 28, 2025 Georgia (Government of) Feb. 7, 2025 Aug. 8, 2025 Germany* Jan. 31, 2025 Jun. 13, 2025 Dec. 5, 2025 Ghana May. 9, 2025 Nov. 7, 2025 Greece Apr. 18, 2025 Oct. 17, 2025 Guernsey Feb. 7, 2025 Aug. 8, 2025 Hungary Apr. 11, 2025 Oct. 10, 2025 Iceland Mar. 7, 2025 Sep. 5, 2025 Iraq Feb. 7, 2025 Aug. 8, 2025 Ireland Mar. 21, 2025 Sep. 19, 2025 Israel May. 9, 2025 Nov. 7, 2025 Italy* Apr. 11, 2025 Oct. 10, 2025 Jersey (States of) Feb. 7, 2025 Aug. 8, 2025 Jordan Mar. 7, 2025 Aug. 29, 2025 Kazakhstan Feb. 21, 2025 Aug. 22, 2025 Kenya Feb. 21, 2025 Aug. 22, 2025 Kuwait May. 23, 2025 Nov. 21, 2025 Latvia May. 30, 2025 Nov. 28, 2025 Lebanon Feb. 14, 2025 Aug. 15, 2025 Liechtenstein May. 23, 2025 Nov. 21, 2025 Lithuania May. 30, 2025 Nov. 28, 2025 Luxembourg Jan. 24, 2025 Jul. 25, 2025 Madagascar Apr. 4, 2025 Oct. 3, 2025 Malta Jun. 6, 2025 Dec. 5, 2025 Mauritius Apr. 25, 2025 Oct. 24, 2025 Montenegro Feb. 28, 2025 Aug. 29, 2025 Morocco Mar. 28, 2025 Sep. 26, 2025 Mozambique Apr. 11, 2025 Oct. 10, 2025 Netherlands* Apr. 18, 2025 Oct. 17, 2025 Nigeria Jan. 31, 2025 May. 16, 2025 Nov. 14, 2025 North Macedonia Jan. 24, 2025 Jul. 25, 2025 Norway* Mar. 7, 2025 Sep. 5, 2025 Oman Mar. 28, 2025 Sep. 26, 2025 Poland May. 9, 2025 Nov. 7, 2025 Portugal* Feb. 28, 2025 Aug. 29, 2025 Qatar May. 2, 2025 Oct. 31, 2025 Ras Al Khaimah (Emirate of) May. 23, 2025 Nov. 21, 2025 Romania Jan. 24, 2025 Apr. 11, 2025 Oct. 10, 2025 Rwanda May. 16, 2025 Nov. 14, 2025 San Marino Jan. 31, 2025 Aug. 1, 2025 Saudi Arabia* Mar. 14, 2025 Sep. 12, 2025 Senegal May. 16, 2025 Nov. 14, 2025 Serbia Apr. 4, 2025 Oct. 3, 2025 Sharjah (Emirate of) May. 16, 2025 Nov. 14, 2025 Slovakia Apr. 25, 2025 Oct. 24, 2025 Slovenia Jun. 6, 2025 Nov. 21, 2025 South Africa May. 16, 2025 Nov. 14, 2025 Spain* Mar. 14, 2025 Sep. 12, 2025 St Helena Mar. 21, 2025 Sep. 19, 2025 Sweden* Jan. 31, 2025 Jun. 13, 2025 Dec. 5, 2025 Switzerland* Feb. 7, 2025 Aug. 8, 2025 Tajikistan Feb. 14, 2025 Aug. 15, 2025 Togo Apr. 18, 2025 Oct. 17, 2025 Turkiye* Apr. 25, 2025 Oct. 17, 2025 Uganda May. 9, 2025 Nov. 7, 2025 Ukraine Mar. 7, 2025 Sep. 5, 2025 United Kingdom* Apr. 11, 2025 Oct. 10, 2025 Uzbekistan May. 23, 2025 Nov. 21, 2025 Zambia May. 23, 2025 Nov. 21, 2025 *Unsolicited ratings. …

Dec 19, 2024 -… View Analyst Contact Information Table of Contents Regional Highlights Central And Eastern Europe (CEE) And Commonwealth Of Independent States (CIS) The GCC Region And The Middle East Africa Abu Dhabi (AA/Stable/A-1+) Rating score snapshot: Outlook: Stable Albania (BB-/Stable/B) Rating score snapshot: Outlook: Stable Angola (B-/Stable/B) Rating score snapshot: Outlook: Stable Armenia (BB-/Stable/B) Rating score snapshot: Outlook: Stable Azerbaijan (BB+/Stable /B) Rating score snapshot: Outlook: Stable Bahrain (B+/Stable/B) Rating score snapshot: Outlook: Stable Benin (BB-/Positive/B) Rating score snapshot: Outlook: Positive Bosnia and Herzegovina (B+/Stable/B) Rating score snapshot: Outlook: Stable Botswana (BBB+/Stable/A-2) Rating score snapshot: Outlook: Stable Bulgaria (BBB/Positive/A-2) Rating score snapshot: Outlook: Positive Burkina Faso (CCC+/Stable/C) Rating score snapshot: Outlook: Stable Cameroon (B-/Stable/B) Rating score snapshot: Outlook: Stable Cape Verde (B/Stable/B) Rating score snapshot: Outlook: Stable Chad (B-/Stable/B) Rating score snapshot: Outlook: Stable Congo-Brazzaville (CCC+/Stable/C) Rating score snapshot: Outlook: Stable Cote d'Ivoire (BB/Stable/B) Rating score snapshot: Outlook: Stable Democratic Republic of Congo (B-/Stable/B) Rating score snapshot: Outlook: Stable Egypt (B-/Positive/B) Rating score snapshot: Outlook: Positive Ethiopia (SD/SD) Rating score snapshot: Outlook: Georgia (BB/Stable/ B) Rating score snapshot: Outlook: Stable Ghana (SD/SD) Rating score snapshot: Outlook: Hungary (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable Iraq (B-/Stable/B) Rating score snapshot: Outlook: Stable Israel (A/Negative/A-1) Rating score snapshot: Outlook: Negative Jordan (BB-/Stable/B) Rating score snapshot: Outlook: Stable Kazakhstan (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable Kenya (B-/Stable/B) Rating score snapshot: Outlook: Stable Kuwait (A+/Stable /A-1) Rating score snapshot: Outlook: Stable Lebanon (SD/SD) Rating score snapshot: Outlook: Madagascar (B-/Stable/B) Rating score snapshot: Outlook: Stable Mauritius (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable Montenegro (B+/Stable/B) Rating score snapshot: Outlook: Stable Morocco (BB+/Positive/B) Rating score snapshot: Outlook: Positive Mozambique (CCC+/Stable/C) Rating score snapshot: Outlook: Stable Nigeria (B-/Stable/B) Rating score snapshot: Outlook: Stable North Macedonia (BB-/Stable/B) Rating score snapshot: Outlook: Stable Oman (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable Poland (A-/Stable/A-2) Rating score snapshot: Outlook: Stable Qatar (AA/Stable/A-1+) Rating score snapshot: Outlook: Stable Ras al Khaimah (A/Stable/A-1) Rating score snapshot: Outlook: Stable Romania (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable Rwanda (B+/Stable/B) Rating score snapshot: Outlook: Stable Saudi Arabia (A/Positive/A-1) Rating score snapshot: Outlook: Positive Senegal (B+/Negative/B) Rating score snapshot: Outlook: Stable Serbia (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable Sharjah (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable St Helena (BBB-/Stable/A-3) Rating score snapshot: Outlook: Stable South Africa (BB-/Positve/B) Rating score snapshot: Outlook: Positive Tajikistan (B/Stable/B) Rating score snapshot: Outlook: Stable Togo (B/Positive/B) Rating score snapshot: Outlook: Positive Turkiye (BB-/Stable/B) Rating score snapshot: Outlook: Stable Uganda (B-/Stable/B) Rating score snapshot: Outlook: Stable Ukraine (SD/SD) Rating score snapshot: Outlook: Uzbekistan (BB-/Stable/B) Rating score snapshot: Outlook: Stable Zambia (SD/SD) Rating score snapshot: Outlook: This report does not constitute a rating action. ...Yet CEE sovereigns such as Hungary, Poland, Slovakia, and Romania face headwinds from heightened fiscal challenges. …

Dec 17, 2024 -… The regions covered in this study are: U.S. and tax havens: U.S., Bermuda, and the Cayman Islands Other developed: Australia, Brunei Darussalam, Canada, Israel, Japan, Republic of Korea, New Zealand, and Singapore Europe: Austria, Belgium, British Virgin Islands, Bulgaria, Channel Islands, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova Republic of, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the U.K. Emerging markets in this study consist of the following subregions: Asia-Pacific: Bangladesh, Bhutan, China, Fiji, Hong Kong, India, Indonesia, Macao Special Administrative Region of China, Malaysia, Mongolia, Pakistan, Papua New Guinea, Philippines, Sri Lanka, Taiwan, Thailand, British Indian Ocean Territory, and Vietnam EMEA: Angola, Armenia, Azerbaijan, Bahrain, Belarus, Bosnia and Herzegovina, Bulgaria, Cote d'Ivoire, Croatia, Cyprus, Egypt, Estonia, Gabon, Georgia, Ghana, Hungary, Jordan, Kazakhstan, Kenya, Kuwait, Latvia, Lebanon, Lithuania, Mauritius, Montenegro, Morocco, Namibia, Nigeria, Oman, Poland, Qatar, Republic of Moldova, Romania, Russia, Saudi Arabia, Slovakia, South Africa, Tunisia, Turkiye, Ukraine, United Arab Emirates, and Uzbekistan Latin America and Caribbean: Argentina, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Honduras, Jamaica, Mexico, Panama, Paraguay, Peru, Trinidad and Tobago, and Uruguay Frontier markets in this study consist of the following subregions: Asia-Pacific: Cambodia and Marshall Islands EMEA: Liberia, Syria, and Togo Latin America and Caribbean: Aruba, Bahamas, Curacao, Netherlands Antilles*, Turks and Caicos Islands, and Venezuela *The Netherlands Antilles was dissolved in 2010. …

Dec 12, 2024 -… Table 1 CEE macroeconomic forecasts for 2024-2026 Sovereign Ratings GDP growth (%) Current account balance (% GDP) Fiscal balance (% GDP) Government debt (% GDP) CPI average (%) 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 Bulgaria BBB/Positive/A-2 2.7 3.0 -0.6 -0.4 -2.9 -2.8 27.2 28.8 2.8 2.3 Croatia A-/Positive/A-2 3.0 2.8 0.3 0.7 -2.4 -2.3 57.9 56.8 2.8 2.5 Czechia AA-/Stable/A-1+ 2.5 2.3 0.3 0.3 -2.4 -1.9 42.7 43.2 2.3 2.1 Estonia A+/Stable/A-1 1.9 2.5 -2.3 -2.6 -3.1 -2.9 24.1 25.6 4.2 3.6 Hungary BBB-/Stable/A-3 2.7 2.8 0.2 0.2 -4.5 -4.0 76.4 77.0 3.6 3.1 Latvia A/Stable/A-1 2.5 2.8 -4.1 -4.0 -3.5 -2.8 46.3 46.9 2.8 2.5 Lithuania A/Stable/A-1 2.9 2.5 2.3 1.4 -2.4 -1.9 40.5 41.2 2.6 2.6 Poland A-/Stable/A-2 3.1 2.9 -0.1 -0.2 -5.5 -4.7 59.7 62.8 4.1 2.7 Romania BBB-/Stable/A-3 2.9 2.6 -8.2 -7.7 -6.8 -5.9 54.8 56.4 5.3 4.1 Slovakia A+/Stable/A-1 2.1 2.4 -2.3 -1.8 -4.7 -3.9 57.9 58.8 5.2 2.8 Slovenia AA-/Positive/A-1+ 2.3 2.1 3.3 3.0 -2.6 -2.5 64.0 63.4 2.9 2.5 Ratings--long- and short-term foreign currency sovereign ratings as of the publication date. ...Hungary, Poland, Slovakia, and Romania are under the EU's excessive deficit procedure. ...This will allow the CEE economies to avoid or contain the buildup of net external debt. Romania is a notable exception, as government foreign borrowings are increasingly financing the country's wide, fiscally induced, current account deficits. …

Nov 22, 2024 -… Table 4 BICRA scores for estimates and regional averages --BICRA estimates-- --BICRA regional averages-- BICRA Group Economic Risk BICRA Group Economic Risk Andorra 6 5 Africa 9 9 Bulgaria 7 7 Asia Pacific 5 5 Croatia 6 6 Central America and the Caribbean 8 8 Estonia 4 4 Europe, the Middle East and Africa 5 5 Latvia 4 4 Europe 4 4 Lithuania 5 5 European Union 3 3 Romania 7 7 Gulf Cooperation Council 5 5 Serbia 7 7 Latin America 6 7 Slovakia 5 6 North America 3 3 World 4 5 Data as of Nov. 22, 2024. …

Nov 18, 2024 -… The full list of included countries is: Austria, Belgium, the British Virgin Islands, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, the Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Montenegro, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the U.K. …

Oct 30, 2024 -… Table 4 BICRA scores for estimates and regional averages --BICRA estimates-- --BICRA regional averages-- BICRA group Economic risk BICRA group Economic risk Andorra 6 5 Africa 9 9 Bulgaria 7 7 Asia Pacific 5 6 Croatia 6 6 Central America and the Caribbean 8 8 Estonia 4 4 Europe, the Middle East and Africa 5 5 Latvia 4 4 Europe 4 4 Lithuania 5 5 European Union 3 3 Romania 7 7 Gulf Cooperation Council 5 5 Serbia 7 7 Latin America 6 7 Slovakia 5 6 North America 3 3 World 4 5 Data as of Oct. 30, 2024. …

Oct 24, 2024 -… Malaysia Dubai Ghana Eritrea Malta Georgia Grenada Ethiopia Portugal Greece Guatemala Gabon Qatar Hungary Honduras Gambia (The) Slovakia India Jamaica Iraq Slovenia Indonesia Kazakhstan Lebanon Spain Jordan Kenya Madagascar Taiwan Kuwait Maldives Mauritania United Arab Emirates Mauritius Marshall Islands Mozambique Uruguay Mexico Moldova Nigeria Morocco Mongolia Pakistan Oman Nicaragua Papua New Guinea Panama North Macedonia Russia Peru Paraguay Sierra Leone Philippines Rwanda Sri Lanka Poland Senegal Suriname Ras Al Khaimah Tunisia Tanzania Romania Turkiye Togo Saudi Arabia Uganda Ukraine Serbia Uzbekistan Zambia Sharjah Vietnam Zimbabwe South Africa Thailand Trinidad and Tobago Turks and Caicos Table 2 Regional risk assessments as of Oct. 24, 2024* Region Weighted-average country risk Europe, the Middle East, and Africa Western Europe 1 Southern Europe 3 Western and Southern Europe 2 Eastern Europe 4 Central Europe 4 Eastern Europe and Central Asia 6 Africa 5 Middle East 4 The Americas North America 1 Latin America 4 Central America 5 The Caribbean 4 Asia-Pacific Asia-Pacific 4 Central Asia 4 East Asia 3 Australia and New Zealand 1 *See Section C of the "Corporate Methodology" criteria article for further details on how regional scores are derived. …

Oct 9, 2024 -… Sovereign ratings and country T&C assessments as of Sept. 30, 2024 ISO code Foreign currency ratings (LT/outlook/ST) Local currency ratings (LT/outlook/ST) T&C assessment Abu Dhabi AE AA/Stable/A-1+ AA/Stable/A-1+ AA+* Albania AL BB-/Stable/B BB-/Stable/B BB+ Andorra AD A-/Positive/A-2 A-/Positive/A-2 AAA* Angola AO B-/Stable/B B-/Stable/B B- Argentina AR CCC/Stable/C CCC/Stable/C CCC Armenia AM BB-/Stable/B BB-/Stable/B BB Aruba AW BBB/Positive/A-2 BBB/Positive/A-2 BBB Australia§ AU AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Austria AT AA+/Positive/A-1+ AA+/Positive/A-1+ AAA* Azerbaijan AZ BB+/Stable/B BB+/Stable/B BB+ Bahamas BS B+/Stable/B B+/Stable/B BB- Bahrain BH B+/Stable/B B+/Stable/B BB- Bangladesh BD B+/Stable/B B+/Stable/B B+ Barbados BB B-/Positive/B B-/Positive/B B- Belgium§ BE AA/Stable/A-1+ AA/Stable/A-1+ AAA* Belize BZ B-/Stable/B B-/Stable/B B- Benin BJ BB-/Stable/B BB-/Stable/B BBB-* Bermuda BM A+/Stable/A-1 A+/Stable/A-1 AA+ Bolivia BO CCC+/Negative/C CCC+/Negative/C CCC+ Bosnia and Herzegovina BA B+/Stable/B B+/Stable/B BB Botswana BW BBB+/Stable/A-2 BBB+/Stable/A-2 A Brazil BR BB/Stable/B BB/Stable/B BBB- Bulgaria BG BBB/Positive/A-2 BBB/Positive/A-2 A Burkina Faso BF CCC+/Stable/C CCC+/Stable/C BBB-* Cameroon CM B-/Stable/B B-/Stable/B BBB-* Canada CA AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Cape Verde CV B/Stable/B B/Stable/B BB- Chile CL A/Negative/A-1 A+/Negative/A-1 AA- China§ CN A+/Stable/A-1 A+/Stable/A-1 A+ Colombia CO BB+/Negative/B BBB-/Negative/A-3 BBB Congo (DRC) CD B-/Stable/B B-/Stable/B B- Congo-Brazzaville CG B-/Stable/B B-/Stable/B BBB-* Cook Islands CK B+/Stable/B B+/Stable/B AAA* Costa Rica CR BB-/Stable/B BB-/Stable/B BB+ Cote d’Ivoire CI BB-/Positive/B BB-/Positive/B BBB-* Croatia HR A-/Positive/A-2 A-/Positive/A-2 AAA* Curacao CW BBB-/Stable/A-3 BBB-/Stable/A-3 BBB- Cyprus CY BBB+/Positive/A-2 BBB+/Positive/A-2 AAA* Czech Republic CZ AA-/Stable/A-1+ AA/Stable/A-1+ AA+ Denmark§ DK AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Dominican Republic DO BB/Stable/B BB/Stable/B BBB- Ecuador EC B-/Negative/B B-/Negative/B AAA Egypt EG B-/Positive/B B-/Positive/B B- El Salvador SV B-/Stable/B B-/Stable/B AAA* Estonia EE A+/Stable/A-1 A+/Stable/A-1 AAA* Ethiopia ET SD/--/SD CCC+/Stable/C CCC+ Falkland Islands (The) FK A+/Stable/A-1 A+/Stable/A-1 A+ Fiji FJ B+/Stable/B B+/Stable/B B+ Finland FI AA+/Stable/A-1+ AA+/Stable/A-1+ AAA* France§ FR AA-/Stable/A-1+ AA-/Stable/A-1+ AAA* Georgia GE BB/Stable/B BB/Stable/B BBB- Germany§ DE AAA/Stable/A-1+ AAA/Stable/A-1+ AAA* Ghana GH SD/--/SD CCC+/Stable/C CCC+ Greece GR BBB-/Positive/A-3 BBB-/Positive/A-3 AAA* Guatemala GT BB/Positive/B BB/Positive/B BBB- Guernsey GG A+/Stable/A-1 A+/Stable/A-1 AAA* Honduras HN BB-/Negative/B BB-/Negative/B BB- Hong Kong HK AA+/Stable/A-1+ AA+/Stable/A-1+ AAA Hungary HU BBB-/Stable/A-3 BBB-/Stable/A-3 BBB+ Iceland IS A+/Stable/A-1 A+/Stable/A-1 AA- India§ IN BBB-/Positive/A-3 BBB-/Positive/A-3 BBB+ Indonesia ID BBB/Stable/A-2 BBB/Stable/A-2 BBB+ Iraq IQ B-/Stable/B B-/Stable/B B- Ireland IE AA/Stable/A-1+ AA/Stable/A-1+ AAA* Israel IL A+/Negative/A-1 A+/Negative/A-1 AA Italy§ IT BBB/Stable/A-2 BBB/Stable/A-2 AAA* Jamaica JM BB-/Positive/B BB-/Positive/B BB Japan§ JP A+/Stable/A-1 A+/Stable/A-1 AA+ Jersey JE AA-/Stable/A-1+ AA-/Stable/A-1+ AAA* Jordan JO BB-/Stable/B BB-/Stable/B BB+ Kazakhstan KZ BBB-/Stable/A-3 BBB-/Stable/A-3 BBB Kenya KE B-/Stable/B B-/Stable/B B Korea KR AA/Stable/A-1+ AA/Stable/A-1+ AAA Kuwait KW A+/Stable/A-1 A+/Stable/A-1 AA- Latvia LV A/Stable/A-1 A/Stable/A-1 AAA* Lebanon LB SD/--/SD CC/Negative/C CC Liechtenstein LI AAA/Stable/A-1+ AAA/Stable/A-1+ AAA* Lithuania LT A/Stable/A-1 A/Stable/A-1 AAA* Luxembourg LU AAA/Stable/A-1+ AAA/Stable/A-1+ AAA* Madagascar MG B-/Stable/B B-/Stable/B B Malaysia MY A-/Stable/A-2 A/Stable/A-1 A+ Malta MT A-/Stable/A-2 A-/Stable/A-2 AAA* Mauritius MU BBB-/Stable/A-3 BBB-/Stable/A-3 BBB Mexico MX BBB/Stable/A-2 BBB+/Stable/A-2 A Mongolia MN B/Stable/B B/Stable/B B+ Montenegro ME B+/Stable/B B+/Stable/B AAA* Montserrat MS BBB-/Stable/A-3 BBB-/Stable/A-3 BBB-* Morocco MA BB+/Positive/B BB+/Positive/B BBB Mozambique MZ CCC+/Stable/C CCC+/Stable/C CCC+ Netherlands§ NL AAA/Stable/A-1+ AAA/Stable/A-1+ AAA* New Zealand NZ AA+/Stable/A-1+ AAA/Stable/A-1+ AAA Nicaragua NG B/Stable/B B/Stable/B B+ Nigeria NG B-/Stable/B B-/Stable/B B- North Macedonia MK BB-/Stable/B BB-/Stable/B BB Norway§ NO AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Oman OM BBB-/Stable/A-3 BBB-/Stable/A-3 BBB Pakistan PK CCC+/Stable/C CCC+/Stable/C CCC+ Panama PA BBB/Negative/A-2 BBB/Negative/A-2 AAA* Papua New Guinea PG B-/Stable/B B-/Stable/B B- Paraguay PY BB+/Stable/B BB+/Stable/B BBB- Peru PE BBB-/Stable/A-3 BBB/Stable/A-2 BBB+ Philippines PH BBB+/Stable/A-2 BBB+/Stable/A-2 A- Poland PL A-/Stable/A-2 A/Stable/A-1 A+ Portugal§ PT A-/Positive/A-2 A-/Positive/A-2 AAA* Qatar QA AA/Stable/A-1+ AA/Stable/A-1+ AA+ Ras Al Khaimah AE A-/Positive/A-2 A-/Positive/A-2 AA+* Romania RO BBB-/Stable/A-3 BBB-/Stable/A-3 A- Rwanda RW B+/Stable/B B+/Stable/B B+ Saudi Arabia§ SA A/Positive/A-1 A/Positive/A-1 A+ Senegal SN B+/Stable/B B+/Stable/B BBB-* Serbia RS BB+/Positive/B BB+/Positive/B BBB- Sharjah AE BBB-/Stable/A-3 BBB-/Stable/A-3 AA+* Singapore§ SG AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Slovakia SK A+/Stable/A-1 A+/Stable/A-1 AAA* Slovenia SI AA-/Stable/A-1+ AA-/Stable/A-1+ AAA* South Africa ZA BB-/Stable/B BB/Stable/B BB+ Spain§ ES A/Stable/A-1 A/Stable/A-1 AAA* Sri Lanka LK SD/--/SD CCC+/Stable/C CC St Helena SH BBB-/Stable/A-3 BBB-/Stable/A-3 BBB- Suriname SR CCC+/Stable/C CCC+/Stable/C CCC+ Sweden§ SE AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Switzerland§ CH AAA/Stable/A-1+ AAA/Stable/A-1+ AAA Taiwan§ TW AA+/Stable/A-1+ AA+/Stable/A-1+ AAA Tajikistan TJ B/Stable/B B/Stable/B B Thailand TH BBB+/Stable/A-2 A-/Stable/A-2 A Togo TG B/Positive/B B/Positive/B BBB-* Trinidad and Tobago TT BBB-/Stable/A-3 BBB-/Stable/A-3 BBB Turkiye§ TR B+/Positive/B B+/Positive/B BB- Turks and Caicos TC BBB+/Positive/A-2 BBB+/Positive/A-2 AAA Uganda UG B-/Stable/B B-/Stable/B B- Ukraine UA SD/--/SD CCC+/Stable/C CCC+ United Kingdom§ GB AA/Stable/A-1+ AA/Stable/A-1+ AAA United States§ US AA+/Stable/A-1+ AA+/Stable/A-1+ AAA Uruguay UY BBB+/Stable/A-2 BBB+/Stable/A-2 A Uzbekistan UZ BB-/Stable/B BB-/Stable/B BB- Vietnam VN BB+/Stable/B BB+/Stable/B BB+ Zambia ZM SD/--/SD CCC+/Stable/C CCC+ *These T&C assessments are for countries that are either members of monetary or currency unions or use as their local currency the currency of another sovereign. …