Sovereign Ratings History

Fitch - Complete Sovereign Rating History
Country
Abu Dhabi
Angola
Angola
Angola
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Armenia
Armenia
Armenia
Armenia
Aruba
Aruba
Aruba
Australia
Australia
Australia
Australia
Australia
Australia
Austria
Austria
Austria
Azerbaijan
Azerbaijan
Azerbaijan
Azerbaijan
Azerbaijan
Azerbaijan
Azerbaijan
Azerbaijan
Azerbaijan
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Bahrain
Belgium
Belgium
Belgium
Belgium
Belgium
Belgium
Belgium
Belgium
Belgium
Belgium
Date
2 Jul 2007
23 May 2012
24 May 2011
19 May 2010
12 Jul 2010
18 Dec 2008
1 Aug 2006
14 Dec 2005
3 Jun 2005
14 Jan 2005
17 Jun 2004
26 Apr 2004
4 Jan 2002
3 Dec 2001
6 Nov 2001
2 Nov 2001
12 Oct 2001
11 Jul 2001
28 Mar 2001
20 Mar 2001
21 Sep 2000
3 Dec 1997
28 May 1997
13 Aug 2009
3 Jul 2008
1 May 2007
24 May 2006
8 Jun 2006
12 Jun 2003
29 Apr 2002
28 Nov 2011
3 Feb 2003
21 Sep 2000
19 Nov 1998
18 Jun 1998
25 Jan 1996
21 Sep 2000
26 Oct 1995
10 Aug 1994
11 May 2012
17 May 2011
20 May 2010
5 Feb 2007
22 Nov 2004
25 Jul 2002
20 Jul 2001
21 Sep 2000
3 Jul 2000
3 Aug 2011
15 Mar 2011
3 Mar 2011
17 Feb 2011
24 Aug 2007
17 Aug 2006
10 Jan 2003
16 Dec 2002
27 Nov 2001
21 Sep 2000
16 Feb 2000
27 Jan 2012
16 Dec 2011
23 May 2011
2 May 2006
17 Jun 2002
21 Sep 2000
16 Dec 1998
14 Jul 1998
26 Oct 1995
10 Aug 1994
Foreign currency rating

long-term
short-term
outlook/Watch
AA
F1+
stable
BBB
positive
BBB
stable
B+
B
positive
B
B
stable
RD
B
RD
B
RD
B
DDD
B
D
D
DDD
D
DDD
C
DDD
C
DDD
D
C
C
Rating Watch negative
CC
C
CCCC
negative
BB
negative
B+
B
BBB
BB
B
negative
BB
B
BB
B
BBB
stable
BB
B
stable
BBB
positive
BBB
stable
BBB
F3
stable
BBB
F3
negative
BBB
F3
stable
AAA
F1+
stable
AA+
F1+
stable
AA
F1+
stable
AA
F1+
AA
F1+
AA
F1+
AAA
F1+
stable
AAA
F1+
AAA
BBBF3
stable
BBBF3
positive
BBBF3
stable
BB+
B
stable
BB
B
stable
BBB
positive
BBB
stable
B+
B
positive
B+
B
BBB
F3
stable
BBB
F3
AF1
negative
A
F1
A
F1
stable
AF1
positive
AF1
stable
BBB
F3
Rating Watch positive
BBB
F3
stable
BBBF3
stable
BBBF3
AA
F1+
negative
AA+
F1+
AA+
F1+
negative
AA+
F1+
stable
AA
F1+
stable
AAF1+
stable
AAF1+
AA+
F1+
AA+
F1+
AA+
-
Last Updated:
Local currency rating
long-term
AA
BBBBB+
B
BB
BBBBBC
DDD
C
CC
CCCBB+
BB
BB+
BB+
BBBB
BBBBBBB
BBB
BBB
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
BBBBBBBBBBB+
BB
BBBBBBBBBBB+
BBB+
A
A+
A+
A
A
BBB+
BBB+
BBB+
BBB+
AA
AA+
AA+
AA+
AA
AAAAAA+
AAA
-
Benin
Benin
Bermuda
Bermuda
Bermuda
Bermuda
Bermuda
Bolivia
Bolivia
Bolivia
Bolivia
Bolivia
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Cameroon
Cameroon
Cameroon
Cameroon
Cameroon
Cameroon
Cameroon
Cameroon
Canada
Canada
Canada
Canada
Canada
Cape Verde
Cape Verde
Cape Verde
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
25 Jan 2012
15 Sep 2004
26 Jun 2012
11 Aug 2006
21 Sep 2000
26 Oct 1995
10 Aug 1994
5 Oct 2010
8 Sep 2009
27 Jul 2007
17 Jun 2005
17 Mar 2004
4 Apr 2011
28 Jun 2010
29 May 2008
9 May 2007
5 Feb 2007
28 Jun 2006
11 Oct 2005
28 Sep 2004
6 Nov 2003
3 Jun 2003
10 Mar 2003
21 Oct 2002
1 Aug 2002
20 Jun 2002
17 Jul 2001
21 Sep 2000
19 May 2000
22 Feb 2000
26 Jan 1999
3 Dec 1997
26 Oct 1995
1 Dec 1994
13 Dec 2011
24 May 2011
30 Apr 2009
9 Nov 2008
30 Jan 2008
17 Aug 2005
4 Aug 2004
24 Jul 2003
29 Oct 2002
14 Jan 2002
21 Sep 2000
17 Apr 1998
30 May 2012
6 Mar 2007
12 Jun 2006
21 Dec 2005
4 Nov 2005
15 Feb 2005
5 Jul 2004
4 Sep 2003
12 Aug 2004
3 Apr 2001
21 Sep 2000
26 Oct 1995
10 Aug 1994
22 Jun 2009
11 Mar 2008
15 Aug 2003
1 Feb 2011
10 Nov 2008
15 May 2007
28 Mar 2005
2 Feb 2004
24 Feb 2003
21 Sep 2000
3 Dec 1997

withdrawn
withdrawn
withdrawn
B
B
stable
AA
F1+
stable
AA+
F1+
stable
AA
F1+
stable
AA
F1+
AA
B+
B
stable
B
B
stable
BB
stable
BB
negative
BB
stable
BBB
F2
stable
BBBF3
positive
BBBF3
stable
BB+
B
stable
BB
B
positive
BB
B
stable
BBB
positive
BBB
stable
B+
B
stable
B
B
positive
B
B
stable
B
B
negative
B+
B
B+
B
negative
BBB
negative
BBB
stable
BBB
B+
B
B
B
B+
B
B+
B
B+
BBBF3
stable
BBBF3
positive
BBBF3
negative
BBBF3
stable
BBB
F3
negative
BBB
F3
stable
BBBF3
stable
BB+
B
positive
BB
B
positive
BBB
stable
B+
B
positive
B+
B
B
B
stable
B
B
stable
B
B
stable
BB
positive
BB
positive
BB
stable
B
B
Rating Watch Negative
B
B
stable
AAA
F1+
stable
AA+
F1+
stable
AA
F1+
stable
AA
F1+
AA
B+
B
stable
B+
B
positive
B+
B
stable
A+
F1
stable
A
F1
stable
A
F1
positive
A
F1
stable
AF1
positive
AF1
stable
AF1
stable
AF1
-

withdrawn
B
AA+
AAA
AAA
AAA
B+
B
BBBBBB
BBBBBBBB+
BB
BB
BBBBB+
B
B
B
B+
B+
B+
B+
B+
B+
B
BBBBB
BBB
BBB
BBB
BBB+
BBB+
BBB
BBBBB+
BB
BB
BB
B
BCCC
CCC
CCC+
CCC+
B
B
AAA
AAA
AAA
AAA
BBBBBBAAA+
A+
A+
A+
A+
AAAA-
Chile
Chile
Chile
Chile
China
China
China
China
China
China
China
China
China
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Costa Rica
Costa Rica
Costa Rica
Costa Rica
Costa Rica
Croatia
Croatia
Croatia
Croatia
Croatia
Croatia
Croatia
Cyprus
Cyprus
Cyprus
Cyprus
Cyprus
Cyprus
Cyprus
Cyprus
Cyprus
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Denmark
Denmark
Denmark
Denmark
Denmark
Dominican Republic
Dominican Republic
Dominican Republic
Dominican Republic
Dominican Republic
Dominican Republic
Dominican Republic
25 Nov 1996
26 Oct 1995
30 Aug 1995
10 Nov 1994
12 Apr 2011
6 Nov 2007
13 Sep 2006
17 Oct 2005
13 Oct 2003
6 Dec 2001
21 Sep 2000
22 Dec 1998
11 Dec 1997
22 Jun 2011
21 Oct 2010
21 Jun 2007
5 Jun 2006
3 May 2004
29 Aug 2002
10 Jan 2002
24 Oct 2000
21 Sep 2000
17 Mar 2000
1 Sep 1999
20 Mar 1998
10 Aug 1994
4 Mar 2011
4 Oct 2006
28 Apr 2003
21 Sep 2000
11 May 1998
21 May 2009
6 Jul 2005
8 Jul 2003
28 Jun 2001
21 Sep 2000
29 Apr 1999
17 Jan 1997
25 Jun 2012
27 Jan 2012
16 Dec 2011
10 Aug 2011
31 May 2011
12 Jul 2007
12 Jul 2007
4 Nov 2003
1 Feb 2002
13 Dec 2011
4 Jun 2010
4 Mar 2008
26 Aug 2005
20 Jun 2003
28 Mar 2001
21 Sep 2000
22 Dec 1998
24 Nov 1997
26 Oct 1995
10 Aug 1995
10 Nov 2003
29 Sep 2000
21 Sep 2000
26 Oct 1995
10 Aug 1994
5 Jan 2011
25 Sep 2008
26 Sep 2006
5 May 2006
19 Jul 2005
11 May 2005
5 May 2005
AAABBB+
A+
A+
A
A
AAAAABBBBB+
BB+
BB
BB
BB
BB
BB+
BB+
BB+
BBBBBB
BBB
BB+
BB
BB
BB
BB
BBBBBBBBBBBBBB+
BB+
BBBBB+
BBBBBB
BBB
AAAAAA+
A+
A+
A+
A+
A
ABBB+
BBB+
BBB+
BBB+
AAAAA
AA+
AA+
AA+
AA+
B
B
B
B
BDDD
DDD

F1
F1
F1
stable
F1
stable
F1
positive
F1
stable
F1
positive
F1
stable
F1
stable
F1
F3
Stable
B
positive
B
stable
B
positive
B
stable
B
negative
B
stable
B
negative
B
stable
B
F3
F3
B
stable
B
stable
B
negative
B
stable
B
F3
negative
F3
stable
F3
positive
F3
stable
B
positive
B
F3
B
negative
F3
negative
F3
F3
negative
F1
negative
F1+
F1+
stable
F1
positive
F1
stable
F1
stable
F1
positive
F1
stable
F1
stable
F2
stable
F2
stable
F2
stable
F2
F2
F1
F1+
stable
F1+
stable
F1+
positive
F1+
B
positive
B
stable
B
positive
B
stable
B
stable
D
D
-

AA
AAAAA+
A+
A
A
BBB
BBBBBBBBBBBBBBBBBBBBB
BBB
BBB
BBB+
ABB+
BB+
BB+
BB+
BB+
BBB
BBB+
BBB+
BBB+
BBB
BBB
ABB+
BBBBBB
BBB
AAAAAAA
AA
AAAAAAA+
A
A
A+
A+
AAAAA
AAA
AAA
AAA
B
B
B
B
B
B
CCC+
Dominican Republic
Dominican Republic
Dominican Republic
Dominican Republic
Dominican Republic
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Ecuador
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
El Salvador
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Estonia
Finland
Finland
Finland
Finland
Finland
Finland
Finland
France
France
France
France
Gabon
Gabon
Gambia
21 Apr 2005
30 Jan 2004
24 Oct 2003
8 Oct 2003
11 Aug 2003
8 Nov 2010
4 Sep 2009
16 Dec 2008
17 Nov 2008
30 Oct 2007
23 Jan 2007
29 Aug 2005
7 Oct 2004
26 Sep 2003
24 Mar 2003
8 Nov 2002
15 Jun 2012
30 Dec 2011
28 Jun 2011
3 Feb 2011
28 Jan 2011
18 Aug 2008
18 Jun 2007
15 Dec 2004
2 Dec 2003
21 Aug 2002
22 Jan 2002
22 Aug 2001
21 Sep 2000
19 Aug 1997
24 Jul 2012
29 Jul 2011
18 Jun 2009
13 Oct 2008
31 Jan 2005
21 Aug 2002
16 Aug 2001
21 Sep 2000
8 May 2000
5 May 1998
23 Sep 1996
5 Jul 2011
19 Jul 2010
30 Mar 2010
5 Feb 2010
8 Apr 2009
3 Oct 2008
31 Jan 2008
31 Aug 2006
7 Jul 2004
22 Oct 2003
30 Aug 2001
30 Jul 2001
28 Sep 2000
7 Aug 2000
11 Sep 1997
21 Sep 2000
5 Aug 1998
14 Jul 1998
29 Apr 1997
12 Mar 1996
26 Oct 1995
10 Aug 1994
16 Dec 2011
21 Sep 2000
26 Oct 1995
10 Aug 1994
5 Apr 2012
29 Oct 2007
6 Jul 2007
C
CCC+
B
B+
B+
BCCC
RD
CCC
CCC
CCC
BBCCC+
CCC+
CCC+
B+
BBBB
BB
BB+
BB+
BB+
BB+
BB+
BB+
BBBBBBBBBBBBBB
BB
BB
BB+
BB+
BB+
BB+
BB+
BB+
BB+
BB
A+
A
BBB+
BBB+
BBB+
AA
A
A
AABBB+
BBB+
BBB
BBB
AAA
AAA
AA+
AA+
AA
AAAAAAA
AAA
AAA
AAA
BBBB-

C
C
B
B
B
stable
B
stable
C
stable
D
C
C
stable
C
B
negative
B
stable
C
stable
C
positive
C
stable
B
negative
B
negative
B
negative
B
B
negative
B
stable
B
positive
B
stable
B
stable
B
stable
F3
negative
F3
stable
F3
stable
F3
B
negative
B
stable
B
negative
B
negative
B
stable
B
negative
B
stable
B
stable
B
B
B
F1
stable
F1
stable
F2
F2
stable
F2
negative
F1
negative
F1
negative
F1
stable
F1
positive
F1
positive
F1
stable
F2
F2
stable
F3
F3
F1+
stable
F1+
F1+
F1+
F1+
F1+
F1+
negative
F1+
stable
F1+
B
positive
B
stable
-

CCC+
CCC+
B
B+
B+
B+
BB
BB+
BB+
BBBBBBBBB
BBB
BBB
BBB
BBB+
BBB+
AABB
BB
BB
BB+
BB+
BB+
BB+
BBB
BBB
AAA+
A
AAAA
A+
A+
A+
A+
A+
A
A
A
A
AAA
AAA
AA+
AAA
AAA
AAA
AAA
AAA
AAA
BBBB-
Gambia
Gambia
Gambia
Georgia
Georgia
Georgia
Georgia
Georgia
Georgia
Germany
Germany
Germany
Ghana
Ghana
Ghana
Ghana
Ghana
Ghana
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Greece
Guatemala
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hong Kong
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
21 Dec 2005
26 Jan 2005
11 Nov 2002
15 Dec 2011
3 Mar 2011
26 Aug 2009
7 Apr 2009
8 Aug 2008
18 Jul 2007
21 Sep 2000
26 Oct 1995
10 Aug 1994
24 Sep 2010
3 Mar 2009
7 Feb 2008
1 Feb 2006
17 Mar 2005
2 Dec 2003
17 May 2012
13 Mar 2012
9 Mar 2012
22 Feb 2012
13 Jul 2011
20 May 2011
14 Jan 2011
21 Dec 2010
9 Apr 2010
8 Dec 2009
22 Oct 2009
12 May 2009
20 Oct 2008
5 Mar 2007
16 Dec 2004
28 Sep 2004
20 Oct 2003
23 Oct 2002
20 Jun 2001
21 Sep 2000
27 Jul 2000
13 Mar 2000
25 Oct 1999
10 Aug 1999
4 Jun 1997
13 Nov 1995
22 Feb 2006
26 Nov 2010
12 Jul 2007
24 Jul 2006
16 May 2004
24 Apr 2003
25 Jun 2001
21 Sep 2000
14 Nov 1996
24 Nov 1995
26 Oct 1995
9 Aug 1995
10 Aug 1994
6 Jan 2012
11 Nov 2011
6 Jun 2011
23 Dec 2010
2 Mar 2009
9 Nov 2008
15 Oct 2008
5 Nov 2007
20 Sep 2006
6 Dec 2005
12 Jan 2005
15 Jul 2003
30 Nov 2000
CCC
CCC+
BBBB+
B+
B+
B+
BBAAA
AAA
AAA
B+
B+
B+
B+
B+
B
CCC
BRD
C
CCC
B+
BB+
BBBBBBBBB+
AA
A
A
A
A+
A+
A
A
AABBB+
BBB+
BBB
BBB
BBBBB+
AA+
AA
AAAAAAAAA+
A+
A+
A+
A+
AABB+
BBBBBBBBBBBB
BBB
BBB+
BBB+
BBB+
BBB+
AAA-

C
stable
C
stable
B
stable
B
stable
B
positive
B
stable
B
B
negative
B
stable
F1+
stable
F1+
B
stable
B
negative
B
stable
B
positive
B
stable
B
positive
C
B
stable
C
C
C
B
B
negative
F2
F2
negative
F2
negative
F1
negative
F1
negative
F1
stable
F1
positive
F1
stable
F1
F1
stable
F1
positive
F1
stable
F1
stable
F1
F2
F2
F3
F3
F3
B
stable
F1+
stable
F1+
stable
F1+
positive
F1+
stable
F1+
negative
F1+
stable
F1+
stable
F1+
F1+
F1
B
negative
F3
negative
F3
Stable
F3
negative
F3
negative
F3
stable
F2
negative
F2
stable
F2
negative
F2
stable
F2
negative
F2
negative
F2
stable

CCC
CCC+
BBBB+
B+
B+
B+
BBAAA
AAA
B+
B+
B+
B+
B+
B
CCC
BRD
C
CCC
B+
BB+
BBBBBBBBB+
AA
A
A
A
A+
A+
A
A
AAAABB+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
BBBBBB
BBB
BBB
BBB+
BBB+
AAAAA
A+
A+
Hungary
Hungary
Hungary
Hungary
Hungary
Hungary
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
Iceland
India
India
India
India
India
India
India
India
India
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Indonesia
Iran
Iran
Iran
Iran
Iran
Iran
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Ireland
Israel
21 Sep 2000
29 Oct 1999
2 Jul 1998
24 Jun 1997
23 May 1997
25 Apr 1996
17 Feb 2012
17 May 2011
5 Jan 2010
23 Dec 2009
8 Oct 2008
30 Sep 2008
1 Apr 2008
15 Mar 2007
21 Feb 2006
31 Mar 2003
15 Feb 2002
21 Sep 2000
3 Feb 2000
18 Jun 2012
14 Jun 2010
15 Jul 2008
1 Aug 2006
21 Jan 2004
22 Nov 2001
31 May 2001
21 Sep 2000
8 Mar 2000
15 Dec 2011
24 Feb 2011
25 Jan 2010
14 Feb 2008
28 Jan 2007
13 Feb 2006
26 Jan 2005
4 Oct 2004
20 Nov 2003
1 Aug 2002
30 Nov 2001
14 Sep 2001
21 Sep 2000
19 May 2000
26 Apr 1999
16 Mar 1998
21 Jan 1998
8 Jan 1998
22 Dec 1997
17 Dec 1997
4 Jun 1997
24 Apr 2008
24 Apr 2006
6 Feb 2006
14 Dec 2004
9 Dec 2003
10 May 2002
27 Jan 2012
16 Dec 2011
14 Apr 2011
1 Apr 2011
9 Dec 2010
6 Oct 2010
4 Nov 2009
8 Apr 2009
6 Mar 2009
21 Sep 2000
16 Dec 1998
14 Jul 1998
26 Oct 1995
10 Oct 1994
11 Feb 2008
BBB+
BBB+
BBB
BBB
BBBBBBBBBBB+
BB+
BBBBBBAA+
A+
AAAAAAAAAABBBBBBBBBBBBBB+
BB
BB+
BB+
BB+
BBBBB+
BB+
BB
BBBBBBB+
B+
B
BBBBBBB+
BBBB+
BBBBBBB+
BBBBB+
B+
BBB+
BBB+
BBB+
BBB+
BBB+
A+
AAAA+
AAA
AAA
AAA
AA+
AA+
AA+
A

F2
positive
F2
F3
F3
F3
F3
f3
stable
B
stable
B
negative
F3
negative
F3
F2
F1
negative
F1
stable
F1+
negative
F1+
stable
F1+
negative
F1+
stable
F1+
F3
negative
F3
stable
F3
stable
F3
stable
B
stable
B
stable
B
negative
B
stable
B
F3
stable
B
positive
B
stable
B
stable
B
positive
B
stable
B
positive
B
positive
B
stable
B
stable
B
stable
B
positive
B
stable
B
B
B
B
B
B
F3
F3
B
stable
B
negative
B
stable
B
positive
B
stable
F2
negative
F2
F2
negative
F2
rating watch negative
F2
stable
F1
negative
F1+
stable
F1+
negative
F1+
F1+
stable
F1+
F1+
F1+
F1
stable

A
A
A
ABBB+
BBB+
BBB+
BBB+
BBB+
AAAA
AA+
AA+
AAA
AAA
AAA
AAA
AAA
BBBBBBBBBBBBBB+
BB+
BBBBBBBBBBBBBB+
BB+
BB
BBBBBBB+
B+
B
BBBB+
BBBB+
BBBBBBBBB+
A
A
B+
BBBBB+
B+
BBB+
BBB+
BBB+
BBB+
BBB+
A+
AAAA+
AAA
AAA
AAA
AA+
AAA
A+
Israel
Israel
Israel
Israel
Israel
Israel
Israel
Israel
Israel
Israel
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Jamaica
Jamaica
Jamaica
Jamaica
Jamaica
Jamaica
Jamaica
Japan
Japan
Japan
Japan
Japan
Japan
Japan
Japan
Japan
Japan
Japan
Japan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kazakhstan
Kenya
Kenya
Kenya
Korea
Korea
Korea
Korea
Korea
Korea
Korea
18 Dec 2006
14 Feb 2005
16 Dec 2003
22 Oct 2002
22 Oct 2001
21 May 2001
21 Sep 2000
6 May 1999
11 Dec 1995
24 Nov 1995
27 Jan 2012
16 Dec 2011
7 Oct 2011
19 Oct 2006
25 May 2006
29 Jun 2005
17 Jun 2002
21 Sep 2000
14 Jul 1998
26 Oct 1995
23 Feb 1995
10 Aug 1994
16 Feb 2010
3 Feb 2010
3 Feb 2010
14 Jan 2010
24 Nov 2009
18 Nov 2008
29 Aug 2006
22 May 2012
27 May 2011
9 May 2005
21 Nov 2002
26 Nov 2001
2 Mar 2001
21 Sep 2000
29 Jun 2000
21 Sep 1998
1 Sep 1998
26 Oct 1995
10 Aug 1994
21 Nov 2011
20 Dec 2010
16 Dec 2009
5 Jun 2009
19 Feb 2009
9 Nov 2008
17 Dec 2007
8 Oct 2007
21 Dec 2006
20 Dec 2005
27 Oct 2004
19 Nov 2003
11 Oct 2002
12 Jul 2001
21 Sep 2000
5 May 2000
15 Feb 1999
27 Jan 1998
5 Nov 1996
16 Jan 2009
30 Jan 2008
12 Dec 2007
7 Nov 2011
1 Sep 2009
9 Nov 2008
23 Oct 2005
19 Sep 2005
27 Jun 2002
13 May 2002
AAAAAAAAABBB+
AA+
A+
AAAA
AA
AA
AAAAAAAAAA
BCCC
RD
CCC
CCC
B
B+
A+
AA
AA
AA
AA
AA+
AA+
AA+
AA+
AAA
AAA
AAA
BBB
BBBBBBBBBBBBBBBBBB
BBB
BBB
BBB
BBBBB+
BB+
BB
BBBBBBBB
BBB+
B+
B+
A+
A+
A+
A+
A
A
BBB+

F1
positive
F1
stable
F1
stable
F1
negative
F1
negative
F1
F1
stable
F1
F2
F2
F2
negative
F1
F1
negative
F1+
stable
F1+
F1+
negative
F1+
stable
F1+
stable
F1+
F1+
B
stable
C
D
C
negative
C
negative
B
negative
B+
stable
F1+
negative
F1+
negative
F1+
stable
F1+
negative
F1+
negative
F1+
negative
F1+
stable
F1+
F1+
F1+
F1+
F3
positive
F3
positive
F3
stable
F3
negative
F3
F3
negative
F3
negative
F3
stable
F3
positive
F3
stable
F3
stable
B
positive
B
stable
B
stable
B
stable
B
B
B
B
B
stable
B
negative
B
stable
F1
positive
F1
stable
F1
negative
F1
stable
F1
F1
stable
F2

A
A
A
A
A+
A+
A+
A+
AA+
A+
AAAA
AA
AA
AAAAAAA
BCCC
RD
C
CCC
B
B+
A+
AAAAAAAA
AA+
AA+
AA+
AAA
AAA
AAA
BBB+
BBB
BBB
BBB
BBB
BBB
BBB+
BBB+
BBB+
BBB+
BBB
BBBBBBBB+
BB
BB
BBBBBBBBBBBBAA
AA
AA
AA
AAAAA
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Korea
Kuwait
Kuwait
Kuwait
Kuwait
Kuwait
Kuwait
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Latvia
Lebanon
Lebanon
Lebanon
Lebanon
Lebanon
Lebanon
Lebanon
Lebanon
Lebanon
Lebanon
Lesotho
Lesotho
Lesotho
Lesotho
Lesotho
Lesotho
Lesotho
Libya
Libya
Libya
Libya
Libya
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
21 Sep 2000
29 Mar 2000
24 Jun 1999
26 Apr 1999
19 Jan 1999
22 Dec 1998
19 Jun 1998
3 Feb 1998
21 Jan 1998
23 Dec 1997
12 Dec 1997
11 Dec 1997
26 Nov 1997
18 Nov 1997
27 Jun 1996
4 Sep 2008
10 Jun 2002
24 Aug 2001
12 Jun 2001
21 Sep 2000
20 Dec 1995
13 Dec 2011
15 Mar 2011
3 Sep 2010
8 Apr 2009
23 Dec 2008
12 Nov 2008
3 Oct 2008
31 Jan 2008
17 Aug 2007
5 Apr 2007
26 Aug 2005
7 Jul 2004
4 Nov 2003
21 Jul 2003
17 Jul 2001
21 Sep 2000
29 Jun 1998
31 Mar 2010
14 Jul 2006
18 Nov 2005
21 Sep 2001
2 Feb 2001
21 Sep 2000
30 Jun 1999
4 Jun 1998
11 Feb 1998
26 Feb 1997
31 May 2011
27 Apr 2010
18 Sep 2006
4 Nov 2005
30 Nov 2004
26 Sep 2003
2 Sep 2002
13 Apr 2011
13 Apr 2011
1 Mar 2011
21 Feb 2011
7 May 2009
13 Dec 2011
4 May 2011
8 Mar 2010
8 Apr 2009
22 Dec 2008
3 Oct 2008
7 Dec 2007
23 Oct 2006
7 Jul 2004
28 Jan 2004
BBB+
BBB+
BBB
BBBBBBBB+
BB+
BB+
BBBBBBBBA
A+
AAAA
AAA+
A+
A
A
BBBBBBBB+
BB+
BBBBBBBBB
BBB+
BBB+
AAABBB+
BBB+
BBB
BBB
BBB
B
BBBB+
BBBBBBBB
BB
BBBBBBBBBBB+
B+
B
BB
BBB
BBB+
BBB
BBB
BBB
BBB
BBB+
AA
A
ABBB+

F2
stable
F2
F2
F3
F3
B
B
B
B
B
F3
F3
F2
F1
F1+
F1+
stable
F1+
stable
F1
positive
F1
positive
F1
positive
F1
F3
stable
F3
positive
B
stable
B
negative
F3
negative
F3
F3
negative
F2
negative
F2
stable
F2
negative
F2
stable
F2
positive
F3
positive
F3
stable
F3
positive
F3
stable
F3
B
stable
B
stable
B
positive
B
stable
B
stable
B
negative
B
B
B
B
B
negative
B
stable
B
stable
B
negative
B
stable
B
positive
B
stable
B
stable
B
F3
F2
stable
F3
stable
F3
positive
F3
stable
F3
negative
F2
negative
F1
negative
F1
negative
F1
stable
F2
positive
F2
positive

A
A
AAAAAABBBBBBA
AA
AA
AA+
AAA
AA
AA
AA
BBB
BBB
BBBBBBBBB
BBB
BBB+
AAA
A
A
A
A
A
A
A
B
BBBB+
BB
BB
BB+
BBBBBBBB
BB
BB
BB+
BB+
BB
BB
B
BB
BBB
BBB+
BBB+
BBB+
BBB+
BBB+
AA
A+
A+
A
A
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Lithuania
Luxembourg
Luxembourg
Luxembourg
Macedonia
Macedonia
Macedonia
Macedonia
Macedonia
Macedonia
Malawi
Malawi
Malawi
Malawi
Malawi
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Mali
Mali
Malta
Malta
Malta
Malta
Malta
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Mexico
Moldova
Moldova
Moldova
Moldova
Moldova
Moldova
Moldova
Moldova
Moldova
Moldova
Moldova
Mongolia
Mongolia
Mongolia
Mongolia
Mongolia
4 Nov 2003
17 Dec 2002
28 Feb 2002
16 May 2001
21 Sep 2000
28 Jan 1997
21 Sep 2000
26 Oct 1995
10 Aug 1994
27 Oct 2010
21 May 2009
4 Nov 2008
14 Aug 2007
13 Jun 2006
1 Nov 2005
25 Aug 2009
6 Mar 2007
21 Dec 2005
30 Jul 2004
20 May 2003
9 Jun 2009
1 Feb 2009
9 Nov 2008
22 Jan 2008
8 Nov 2004
6 Apr 2004
7 Aug 2002
9 Apr 2002
12 Sep 2001
21 Sep 2000
7 Dec 1999
9 Sep 1999
26 Apr 1999
9 Sep 1998
13 Aug 1998
4 Dec 2009
30 Apr 2004
12 Jul 2007
4 Nov 2003
21 Sep 2000
23 Jun 1998
20 Jul 1996
23 Nov 2009
10 Nov 2008
19 Sep 2007
29 Mar 2007
7 Dec 2005
15 Jan 2002
21 Sep 2000
3 May 2000
11 Apr 2000
15 Sep 1997
26 Oct 1995
30 Aug 1995
17 Dec 2009
15 Sep 2008
18 Jun 2007
4 Feb 2003
18 Nov 2002
28 Jun 2002
26 Jun 2001
7 Jun 2001
21 Sep 2000
25 Nov 1999
30 Jul 1998
23 Nov 2010
11 Oct 2009
19 Jan 2009
10 Dec 2008
3 Jun 2008
BBB
BBB
BBBBBBBB+
BB+
AAA
AAA
AAA
BB+
BB+
BB+
BB+
BB+
BB
BCCC
CCC+
CCC+
AAAAABBB+
BBB+
BBB
BBB
BBB
BBB
BBBBBBBB
BBBBA+
A
A
A
A
BBB
BBB+
BBB+
BBB
BBB
BBBBB+
BB+
BB
BB
BB
BB
BBBDD
DD
CC
CCC+
BBB
B+
B
B
B+
B+

F3
positive
F3
stable
F3
positive
F3
stable
B
stable
B
F1+
stable
F1+
B
stable
B
negative
B
stable
B
positive
B
stable
B
positive
B
stable
C
positive
C
positive
C
stable
F2
stable
F2
stable
F2
stable
F2
positive
F2
stable
F2
positive
F2
stable
F2
positive
F2
stable
F2
positive
F2
F3
F3
B
F3
B
stable
F1
stable
F1
positive
F1
stable
F1
F1
F2
stable
F2
negative
F2
stable
F3
positive
F3
stable
F3
stable
B
positive
B
B
B
B
B
stable
B
positive
B
stable
D
D
stable
C
negative
C
negative
B
stable
B
B
B
stable
B
stable
B
negative
B
negative
B
stable

AABBB+
BBB+
BBB+
BBB+
AAA
AAA
BB+
BB+
BB+
BB+
BB+
BB
BCCC
CCC+
CCC+
A
A+
A+
A+
A+
A
A
AAAABBB
BBB
BBB
ABA+
AAAAAABBB+
AABBB+
BBB+
BBB
BBB
BBB
BBBBBBB
B
B
CCC
CCC
CCC
B
B
B
B+
B+
B
B
B+
B+
Mongolia
Mongolia
Morocco
Mozambique
Mozambique
Namibia
Namibia
Namibia
Nigeria
Nigeria
Nigeria
Nigeria
Netherlands
Netherlands
Netherlands
New Zealand
New Zealand
New Zealand
New Zealand
Norway
Norway
Norway
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Papua New Guinea
Papua New Guinea
Papua New Guinea
Papua New Guinea
Papua New Guinea
Papua New Guinea
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Philippines
Philippines
Philippines
Philippines
Philippines
Philippines
Philippines
Philippines
Philippines
Philippines
Philippines
Poland
Poland
Poland
Poland
Poland
Poland
20 Sep 2007
18 Jul 2005
19 Apr 2007
20 Jul 2012
15 Jul 2003
9 Dec 2011
13 Dec 2010
7 Dec 2005
21 Oct 2011
22 Oct 2010
23 May 2008
30 Jan 2006
21 Sep 2000
26 Oct 1995
10 Aug 1994
29 Sep 2011
15 Jul 2009
18 Aug 2003
27 Mar 2002
21 Sep 2000
26 Oct 1995
13 Mar 1995
2 Jun 2011
23 Mar 2010
29 Jan 2008
3 Dec 2003
24 Oct 2002
4 Sep 2002
21 Sep 2000
20 Jul 2000
14 Feb 2000
8 Sep 1998
24 Jan 2010
13 Mar 2008
9 Jan 2007
10 Jul 2003
21 Sep 2000
1 Jan 1999
10 Nov 2011
2 Jun 2010
2 Apr 2008
6 Mar 2007
31 Aug 2006
4 Nov 2005
18 Nov 2004
4 Jun 2004
22 Oct 2003
21 Aug 2002
29 Apr 2002
18 Apr 2001
8 Nov 2000
21 Sep 2000
14 Oct 1999
23 Jun 2011
13 Feb 2006
11 Jul 2005
26 May 2005
7 Dec 2004
12 Jun 2003
25 Nov 2002
15 Mar 2001
17 Jan 2001
21 Sep 2000
8 Jul 1999
18 Jan 2007
23 Mar 2005
6 May 2004
4 Nov 2003
21 Sep 2000
19 Nov 1998
B+
B+
BBBB
B
BBBBBBBBBBBBBBBBBAAA
AAA
AAA
AA
AA+
AA+
AA
AAA
AAA
AAA
BBB
BBBBB+
BB+
BB+
BB+
BB+
BB+
BB+
BB+
B+
B
B
B+
B+
BBB
BBBBBBBB+
BB+
BB
BB
BBBBBBBBBBBB
BB
BB
BB+
BB
BB
BB
BB
BB
BB+
BB+
BB+
BB+
BB+
ABBB+
BBB+
BBB+
BBB+
BBB+

B
positive
B
stable
F3
stable
B
positive
B
stable
F3
stable
F3
positive
F3
stable
B
stable
B
negative
B
stable
B
stable
F1+
stable
F1+
F1+
stable
F1+
negative
F1+
stable
F1+
stable
F1+
stable
F1+
F3
Stable
F3
positive
B
positive
B
stable
B
negative
B
B
stable
B
B
B
B
stable
B
positive
B
stable
B
stable
B
F2
stable
F3
positive
F3
stable
B
positive
B
stable
B
positive
B
stable
B
positive
B
stable
B
negative
B
stable
B
negative
B
B
stable
B
B
stable
B
stable
B
negative
B
stable
B
negative
B
stable
B
negative
B
stable
B
B
stable
B
F2
stable
F2
positive
F2
stable
F2
positive
F2
stable
F2
-

B+
B+
BBB
B+
B+
BBB
BBB
BBB
BB
BB
BB
BBAAA
AAA
AA+
AAA
AAA
AAA
AAA
AAA
BBB
BBBBB+
BB+
BB+
BB+
BB+
BB+
BB+
BB+
B+
B+
B+
BBBBBBB+
BBB
BBB
BBBBBBBB+
BB+
BB+
BB+
BB+
BB+
BB+
BBBBBBBBBBBBBB+
BB+
BB+
BB+
BB+
BBBBBBBBB
BBB
BBB
A
A
A
A+
A+
A+
Poland
Poland
Poland
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Portugal
Ras Al Khaimah
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Romania
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Russia
Rwanda
Rwanda
San Marino
San Marino
San Marino
San Marino
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
7 Jun 1996
29 Apr 1996
26 Oct 1995
24 Nov 2011
1 Apr 2011
24 Mar 2011
23 Dec 2010
24 Mar 2010
3 Sep 2009
1 May 2007
29 Jun 2005
21 Sep 2000
14 Jul 1998
4 Jun 1998
26 Oct 1995
10 Aug 1994
23 Jan 2008
4 Jul 2011
2 Feb 2010
9 Nov 2008
31 Jan 2008
31 Aug 2006
17 Nov 2004
23 Aug 2004
18 Dec 2003
24 Sep 2003
30 Oct 2002
14 Jun 2002
14 Nov 2001
16 Nov 2000
21 Sep 2000
24 Mar 1999
23 Dec 1998
23 Sep 1998
11 Sep 1997
6 Mar 1996
16 Jan 2012
8 Sep 2010
22 Jan 2010
4 Feb 2009
9 Nov 2008
25 Jul 2006
3 Aug 2005
18 Nov 2004
13 May 2003
2 May 2002
4 Oct 2001
17 Jul 2001
21 Sep 2000
29 Aug 2000
8 May 2000
14 Feb 2000
27 Aug 1998
17 Aug 1998
30 Jul 1998
7 Jun 1998
5 Jun 1998
10 Mar 1998
12 Feb 1998
7 Oct 1996
24 Aug 2010
16 Dec 2006
23 Jul 2012
22 Oct 2009
13 May 2009
10 Jan 2001
9 Jul 2008
31 Jul 2007
17 Aug 2006
24 Nov 2004
BBB
BB+
BB+
BB+
BBBAA+
AAAA
AA
AA
AA
AA
AA
AAAAA
BBBBB+
BB+
BBB
BBB
BBBBB
BB
BBBBB+
B
B
BBB
BBBBBBBBB
BBB
BBB
BBB
BBB+
BBB+
BBB
BBBBB+
BBB+
B
B
B
BCCC
CCC
BBBBB
BB+
BB+
BB+
BB+
B
BBBB+
A
AAAA
AAA+
A+
A

F3
B
B
B
negative
F3
F2
F1
negative
F1+
negative
F1+
negative
F1+
stable
F1+
negative
F1+
stable
F1+
F1+
F1+
F1
stable
F3
stable
B
stable
B
negative
F3
negative
F3
stable
F3
stable
B
positive
B
stable
B
B
stable
B
stable
B
positive
B
stable
B
stable
B
B
B
B
B
F3
stable
F3
positive
F3
stable
F3
negative
F2
negative
F2
stable
F3
stable
F3
stable
B
stable
B
positive
B
stable
B
positive
B
stable
B
B
C
C
B
B
B
B
B
B
B
B
stable
B
positive
F2
negative
F1
negative
F1+
F1+
stable
F1+
stable
F1
positive
F1
stable
F1
stable

ABB+
BBBAA+
AAAA
AA
AA
AA
AA
AAA
AAA
A
BBB
BBBBBBBBB+
BBB+
BBB
BB+
BB+
BB
BB
BBB+
B
BBBBBBBBBBBBB
BBB
BBB
BBB
BBB+
BBB+
BBB
BBBBB+
BBB
BBBB
BAAA+
A+
A
Serbia
Serbia
Serbia
Serbia
Seychelles
Seychelles
Singapore
Singapore
Singapore
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovakia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
Slovenia
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
South Africa
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Sri Lanka
Sri Lanka
Sri Lanka
Sri Lanka
Sri Lanka
16 Aug 2012
11 Nov 2010
23 Dec 2008
19 May 2005
3 Feb 2011
1 Feb 2010
14 May 2003
21 Sep 2000
18 Nov 1998
8 Jul 2008
7 May 2008
23 Jul 2007
11 Oct 2005
21 Sep 2004
22 Jan 2004
4 Nov 2003
3 Mar 2003
1 Nov 2002
20 Feb 2001
21 Sep 2000
22 Dec 1998
5 Oct 1998
8 Aug 1996
8 Aug 2012
27 Jan 2012
16 Dec 2011
28 Sep 2011
12 Jul 2006
7 Jul 2004
4 Nov 2003
6 May 2003
29 May 2002
21 Sep 2000
15 Dec 1999
9 May 1996
13 Jan 2012
17 Jan 2011
9 Nov 2008
17 Jun 2008
25 Jul 2007
25 Aug 2005
21 Oct 2004
2 May 2003
11 Mar 2003
20 Aug 2002
21 Sep 2000
27 Jun 2000
19 May 2000
28 May 1998
17 Feb 1998
5 Jun 1996
26 Oct 1995
22 Sep 1994
7 Jun 2012
27 Jan 2012
16 Dec 2011
7 Oct 2011
4 Mar 2011
28 May 2010
10 Dec 2003
21 Sep 2000
1 Sep 1999
14 Jul 1998
26 Oct 1995
10 Aug 1994
18 Jul 2011
21 Sep 2010
9 Oct 2009
27 Feb 2009
2 Apr 2008
BBBBBBBBB
BAAA
AA+
AA+
A+
A
A
A
ABBB+
BBB
BBB
BBBBB+
BB+
BB+
BBBBBBAA
AAAAAA
AAA+
A+
A
A
A
ABBB+
BBB+
BBB+
BBB+
BBB+
BBB+
BBB
BBB
BBBBBBBBBBBBBB+
BB
BB
BB
BB
BB
BBB
A
AAAAAA+
AA+
AAA
AA+
AA+
AA
AA
AA
BBB+
B+
B+
B+

B
negative
B
stable
B
negative
B
stable
B
stable
B
positive
F1+
stable
F1+
stable
F1+
F1
stable
F1
F1
positive
F1
stable
F2
stable
F2
positive
F3
positive
F3
stable
F3
positive
B
positive
B
stable
B
F3
F3
F2
negative
F1
negative
F1+
F1+
negative
F1+
stable
F1+
positive
F1
positive
F1
stable
F1
positive
F1
stable
F1
F1
F2
negative
F2
stable
F2
negative
F2
stable
F2
positive
F2
stable
F3
positive
F3
stable
F3
F3
positive
F3
stable
F3
B
B
B
B
B
F2
negative
F1
negative
F1+
F1+
negative
F1+
negative
F1+
stable
F1+
stable
F1+
stable
F1+
F1+
F1+
B
stable
B
positive
B
stable
B
negative
B
stable

BBBBBBBBB+
B
AAA
AAA
AAA
A+
A+
A+
A+
A+
A
AABBB+
BBB+
BBB+
BBB+
AAAA
AAAAAA
AA
AA
AA
AA
AA
AA
AAA
A
i
A
A
A
AABBB+
BBB+
BBB+
BBB+
BBB+
BBB
BBB
BBB
BBB
A
AAAAAA+
AA+
AAA
AA+
AA+
AA
AAA
BBB+
B+
B+
B+
Sri Lanka
Sri Lanka
Suriname
Suriname
Suriname
Suriname
Sweden
Sweden
Sweden
Sweden
Sweden
Sweden
Sweden
Sweden
Switzerland
Switzerland
Switzerland
Taiwan
Taiwan
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Thailand
Tunisia
Tunisia
Tunisia
Tunisia
Tunisia
Tunisia
Tunisia
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkey
Turkmenistan
Turkmenistan
Turkmenistan
Turkmenistan
Turkmenistan
27 Apr 2006
8 Dec 2005
10 Jul 2012
29 Jul 2011
20 Oct 2009
18 Jun 2004
8 Mar 2004
4 Mar 2002
18 Jul 2001
21 Sep 2000
27 Jan 1999
26 Oct 1995
22 Dec 1994
10 Aug 1994
21 Sep 2000
26 Oct 1995
10 Aug 1994
18 Jan 2009
19 Nov 2001
12 May 2011
19 Apr 2010
16 Apr 2009
1 Dec 2008
22 Oct 2006
19 Sep 2006
10 May 2005
3 Mar 2004
3 Sep 2003
10 Oct 2002
21 Sep 2000
24 Jun 1999
26 Apr 1999
14 May 1998
2 Mar 2011
14 Jan 2011
24 May 2001
21 Sep 2000
26 Sep 1996
26 Oct 1995
14 Sep 1995
23 Nov 2011
24 Nov 2010
3 Dec 2009
27 Oct 2009
12 Dec 2007
9 May 2007
6 Dec 2005
13 Jan 2005
25 Aug 2004
9 Feb 2004
25 Sep 2003
6 Aug 2003
25 Mar 2003
5 Feb 2002
2 Aug 2001
2 Apr 2001
22 Feb 2001
21 Sep 2000
27 Apr 2000
10 Apr 2000
20 Dec 1996
29 Jul 1996
26 Oct 1995
26 Sep 1995
10 Aug 1994
25 Feb 2005
18 May 2001
21 Sep 2000
29 Jan 1999
7 Jan 1998
BBBBBBB+
B
B
AAA
AA+
AA
AA
AA
AAAAAA
AAA
AAA
AAA
A+
A+
BBB
BBB
BBB
BBB+
BBB+
BBB+
BBB+
BBB
BBB
BBBBBBBBBBB+
BB+
BBBBBB
BBB
BBBBBBBBBBBBBB+
BB+
BB+
BBBBBBBBBBB+
B+
B
BBB
B
B+
BBBBBBB+
B+
BBBBBBB
CCCBBB

B
negative
B
stable
B
stable
stable
positive
stable
F1+
stable
F1+
stable
F1+
positive
F1+
stable
F1+
F1+
F1+
stable
F1+
F1
stable
F1
stable
F3
stable
F3
stable
F3
stable
F2
negative
F2
stable
F2
F2
stable
F3
positive
F3
stable
F3
positive
F3
stable
F3
B
B
F3
negative
F2
F2
stable
F3
positive
F3
F3
B
stable
B
positive
B
stable
B
B
stable
B
stable
B
positive
B
stable
B
positive
B
stable
B
positive
B
positive
B
negative
B
stable
B
negative
B
B
B
stable
B
B
B
B
B
C
B
stable
B
B
-

BBBBBBB+
B+
B+
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AA
AA
AAAA
A
A
A
AABBB+
BBB+
BBB+
BBB+
BBB+
BBB
AAAABB+
BB+
BB+
BB
BB
BBBBBBB+
B+
B
BBB
BB
B+
BB
BB
-
Uganda
Uganda
Uganda
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
Ukraine
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United States
United States
United States
United States
United States
United States
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Uruguay
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Venezuela
Vietnam
Vietnam
Vietnam
Vietnam
7 Oct 2011
19 Aug 2009
17 Mar 2005
19 Oct 2011
21 Jul 2011
6 Jul 2010
17 Mar 2010
12 Nov 2009
13 Feb 2009
17 Oct 2008
25 Sep 2008
14 May 2008
25 Oct 2006
12 Jan 2006
8 Jun 2005
21 Jan 2005
25 Jun 2003
26 Mar 2002
13 Jun 2001
14 Mar 2012
21 Sep 2000
26 Oct 1995
10 Aug 1994
28 Nov 2011
21 Sep 2000
1 Apr 1996
13 Nov 1995
26 Oct 1995
10 Aug 1994
24 Apr 2012
14 Jul 2011
27 Jul 2010
13 Jul 2009
27 Jul 2007
24 May 2006
7 Mar 2005
29 Mar 2004
17 Jun 2003
16 May 2003
10 Apr 2003
12 Mar 2003
7 Jan 2003
30 Jul 2002
28 May 2002
13 Mar 2002
23 Jul 2001
21 Sep 2000
19 May 2000
23 Jan 1997
14 Jan 1997
26 Oct 1995
18 Jan 1995
4 Apr 2012
16 Dec 2008
18 Oct 2007
14 Nov 2005
20 Sep 2004
23 Jun 2003
10 Jan 2003
28 Jun 2002
6 Feb 2002
18 Dec 2001
21 Sep 2000
15 May 2000
2 Sep 1999
15 Sep 1997
28 Jul 2010
11 Mar 2010
29 Jun 2009
29 May 2008
B
B
B
B
B
B
BBB
B+
BBBBBBBBBBBBB+
B
BAAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
BB+
BB+
BB
BBBBB+
B+
B
BDDD
C
CCCBB
B+
BB+
BBBBBBBBBBBBBB+
BB+
BB+
B+
B+
BBBBB+
BCCC+
B
B+
BBBBBBBBBBB+
BBBBBB-

B
stable
B
positive
B
stable
B
stable
B
positive
B
stable
B
stable
B
negative
B
negative
B
negative
B
negative
B
stable
B
positive
B
stable
B
positive
B
stable
B
stable
B
stable
B
stable
F1+
negative
F1+
stable
F1+
F1+
negative
F1+
stable
F1+
F1+
F1+
B
positive
B
stable
B
positive
B
positive
B
stable
B
positive
B
stable
B
stable
B
stable
D
C
C
negative
B
negative
B
negative
B
B
negative
F3
negative
F3
stable
F3
F3
B
B
B
negative
B
stable
B
negative
B
stable
B
stable
B
stable
C
negative
B
negative
B
negative
B
negative
B
stable
B
B
B
B
stable
B
B
stable
B
negative

B
B
B
B
B
B
BBB
B+
BBBBBBBBBBBBB+
B
BAAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
BBBBBBBB+
BB
BB
BBBBB+
B
B
CCCCCCB
B
BBBBBBBB+
BBB+
BBB+
B+
B+
BBBBB+
BCCC
BB
B+
B+
B+
B+
BBBBBB
Vietnam
Vietnam
Zambia
Zambia
6 Nov 2003
11 Jun 2002
1 Mar 2012
2 Mar 2011
BBBBB+
B+

B
stable
B
positive
B
negative
B
stable

BB
BB
B+
B+
1) blue = positive rating action, red = negative rating action.

2) DCR history kept for the 4 sovereigns not rated by Fitch IBCA prior to the merger with Duff & Phelps and affirmed 19/5/00 by Fitch.
3) Outlooks assigned to all ratings, and used as a rating action starting from 21/9/00.
4) Separate and distinct FC and LC Rating Outlooks used, allowing them to differ starting from 1/10/03.
5) Rating affirmations are not listed, but are available from FitchResearch
Copyright 2010 by Fitch, Inc., Fitch Ratings Ltd. and its subsidiaries. One State Street Plaza, NY, NY 10004.
Telephone: 1-800-753-4824, (212) 908-0500. Fax: (212) 480-4435. Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved. All of the information contained herein is based on information obtained
from issuers, other obligors, underwriters, and other sources which Fitch believes to be reliable. Fitch does not audit or verify the truth or accuracy of any such information. As a result, the information in this report is provided as is without any
representation or warranty of any kind. A Fitch rating is an opinion as to the creditworthiness of a security. The rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in
the offer or sale of any security. A report providing a Fitch rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. Ratings
may be changed, suspended, or withdrawn at anytime for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort. Ratings are not a recommendation to buy, sell, or hold any security. Ratings do not comment on
the adequacy of market price, the suitability of any security for a particular investor, or the tax-exempt nature or taxability of payments made in respect to any security. Fitch receives fees from issuers, insurers, guarantors, other obligors, and
underwriters for rating securities. Such fees generally vary from US$1,000 to US$750,000 (or the applicable currency equivalent) per issue. In certain cases, Fitch will rate all or a number of issues issued by a particular issuer, or insured or guaranteed
by a particular insurer or guarantor, for a single annual fee. Such fees are expected to vary from US$10,000 to US$1,500,000 (or the applicable currency equivalent). The assignment, publication, or dissemination of a rating by Fitch shall not constitute
a consent by Fitch to use its name as an expert in connection with any registration statement filed under the United States securities laws, the Financial Services and Markets Act of 2000 of Great Britain, or the securities laws of any particular
jurisdiction. Due to the relative efficiency of electronic publishing and distribution, Fitch research may be available to electronic subscribers up to three days earlier than to print subscribers.
24 Aug 2012
outlook/Watch
stable
positive
stable
positive
stable
stable
stable
stable
stable
stable
stable
stable
negative
negative
negative
stable
stable
positive
stable
stable
negative
stable
stable
stable
stable
stable
stable
positive
stable
stable
stable
positive
stable
positive
stable
negative
stable
positive
stable
stable
stable
negative
negative
stable
stable
stable
-

withdrawn
stable
stable
stable
stable
stable
stable
stable
negative
stable
stable
positive
stable
stable
positive
stable
positive
stable
stable
positive
stable
negative
negative
negative
stable
stable
positive
negative
stable
negative
stable
stable
positive
positive
stable
positive
stable
stable
positive
positive
positive
stable
stable
stable
stable
stable
stable
positive
stable
stable
stable
positive
stable
stable
stable
stable
-

negative
stable
positive
stable
stable
stable
stable
Stable
positive
stable
stable
stable
negative
stable
negative
stable
stable
stable
negative
stable
negative
stable
positive
stable
positive
negative
negative
negative
negative
stable
stable
stable
stable
positive
stable
stable
stable
stable
stable
stable
stable
positive
positive
stable
positive
stable
stable
stable

stable
negative
negative
negative
negative
stable
stable
stable
negative
stable
negative
stable
stable
negative
stable
negative
negative
stable
negative
stable
stable
stable
stable
stable
negative
negative
negative
stable
stable
stable
stable
stable
stable
negative
stable
positive
stable
-

stable
stable
stable
stable
positive
stable
negative
stable
stable
stable
negative
stable
positive
stable
positive
stable
negative
negative
negative
negative
negative
stable
positive
stable
stable
positive
stable
stable
stable
stable
stable
stable
stable
negative
stable
stable
negative
negative
Stable
negative
negative
stable
negative
stable
negative
stable
stable
negative
stable

positive
stable
stable
negative
negative
negative
stable
negative
stable
negative
stable
negative
stable
negative
stable
stable
stable
negative
stable
stable
positive
stable
stable
positive
stable
positive
positive
stable
stable
stable
positive
negative
stable
negative
stable
positive
stable
negative
negative
rating watch negative
stable
negative
stable
negative
stable
stable

positive
stable
negative
negative
negative
stable
negative
negative
stable
negative
stable
stable
stable
negative
negative
negative
stable
negative
negative
stable
negative
negative
negative
stable
positive
positive
stable
negative
negative
negative
stable
positive
stable
stable
positive
stable
stable
stable
stable
negative
stable
positive
stable
negative
stable
stable

stable
stable
stable
positive
positive
positive
stable
positive
stable
negative
negative
negative
negative
stable
negative
stable
stable
stable
stable
positive
stable
stable
stable
positive
stable
stable
negative
negative
negative
stable
negative
stable
positive
stable
stable
stable
stable
positive
stable
negative
negative
negative
negative
stable
stable
stable

stable
stable
positive
stable
stable
stable
stable
negative
stable
positive
stable
positive
stable
positive
positive
stable
stable
negative
stable
stable
stable
positive
stable
positive
stable
positive
stable
stable
stable
stable
stable
negative
stable
positive
stable
stable
positive
stable
positive
stable
stable
negative
negative
stable
stable
stable
negative
negative
stable

positive
stable
stable
stable
stable
stable
positive
stable
stable
negative
stable
stable
stable
stable
negative
stable
stable
stable
Stable
positive
positive
stable
negative
stable
stable
stable
stable
stable
stable
positive
stable
positive
stable
positive
stable
stable
stable
negative
stable
negative
stable
stable
stable
negative
stable
negative
stable
negative
stable
stable
stable
stable
stable
stable
stable
-

negative
negative
negative
negative
stable
negative
stable
stable
stable
stable
negative
negative
stable
stable
positive
stable
stable
stable
positive
stable
stable
stable
positive
stable
negative
negative
stable
stable
stable
stable
positive
stable
positive
stable
stable
positive
stable
positive
stable
stable

negative
stable
negative
stable
stable
positive
stable
stable
stable
stable
stable
stable
stable
stable
stable
stable
positive
positive
stable
negative
negative
Rating watch negative
negative
stable
stable
stable
stable
positive
stable
negative
stable
negative
stable
positive
stable
positive
stable
positive
stable
negative
negative
negative
negative
stable
stable
stable
stable
positive
stable
negative
stable

negative
stable
stable
stable
stable
stable
stable
stable
positive
stable
stable
negative
stable
stable
negative
stable
negative
stable
stable
positive
stable
positive
stable
negative
stable
positive
stable
positive
stable
stable
stable
positive
stable
positive
stable
positive
positive
negative
stable
negative
stable
stable
-

stable
positive
stable
stable
positive
stable
stable
negative
negative
negative
negative
stable
positive
stable
positive
stable
stable
stable
stable
negative
stable
negative
stable
positive
stable
positive
positive
stable
positive
stable
stable
stable
negative
negative
negative
negative
negative
stable
negative
stable
negative
stable
stable
stable
negative
negative
negative
negative
stable
stable
negative
negative

stable
positive
negative
stable
Phelps and affirmed 19/5/00 by Fitch.
l of the information contained herein is based on information obtained

result, the information in this report is provided as is without any
it risk, unless such risk is specifically mentioned. Fitch is not engaged in
ssuer and its agents in connection with the sale of the securities. Ratings
mendation to buy, sell, or hold any security. Ratings do not comment on
ves fees from issuers, insurers, guarantors, other obligors, and
a number of issues issued by a particular issuer, or insured or guaranteed
ment, publication, or dissemination of a rating by Fitch shall not constitute
f 2000 of Great Britain, or the securities laws of any particular
ubscribers.

Sovereign Ratings History

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Sovereign Ratings History

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Fitch - Complete Sovereign Rating History

Foreign currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

Foreign currency rating

Local currency rating

1) blue = positive rating action, red = negative rating action.

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Local currency rating

Phelps and affirmed 19/5/00 by Fitch.

l of the information contained herein is based on information obtained

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