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Chart: Venezuela Bond Yields are sliding but is default unavoidable anyway?

Source: ML




MidLincoln Counry Eurobond Indexes Update



Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondLEBANON (REPUBLIC OF) MTN RegS 21LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 23LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 27LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 22

Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondVENEZUELA (BOLVARIAN REPUBLIC OF) RegS 18VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20VENEZUELA BOLIVARIAN REPUBLIC OF RegS 26

Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCSN RESOURCES SA RegS 20SAMARCO MINERACAO SA RegS 22BANCO SANTANDER MEXICO SA (MEXICO) RegS 22HYUNDAI CAPITAL AMERICA RegS 17

Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondODEBRECHT DRILL VIII/IX RegS 21PETROLEOS DE VENEZUELA SA RegS 17PETROLEOS DE VENEZUELA SA MTN RegS 21PETROLEOS DE VENEZUELA SA RegS 24

Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryLebanonSlovak RepublicSri LankaUnited StatesPakistan

Country Average Corporate Yield Change USD Eurobonds Weekly
CountryUnited StatesJamaicaKorea (South)ThailandPhilippines

Top 30 GEM Souvereign Eurobonds by Yield
NameVENEZUELA (BOLVARIAN REPUBLIC OF) RegSVENEZUELA (BOLVARIAN REPUBLIC OF) RegSPETROLEOS DE VENEZUELA SA RegS

Top 30 GEM Corporate Eurobonds by Yield
NamePETROLEOS DE VENEZUELA SA RegSODEBRECHT DRILL VIII/IX RegSPETROLEOS DE VENEZUELA SA MTN RegS

Top 30 GEM Local (reasonably rated) Currency Bonds by Yield
NameBRAZIL FEDERATIVE REPUBLIC OF (GOBRAZIL FEDERATIVE REPUBLIC OF (GOBRAZIL FEDERATIVE REPUBLIC OF (GO

Big Country Table - Stance, Ratings and Datamine


Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly

BondCountryYieldYield Change % pts
LEBANON (REPUBLIC OF) MTN RegS 21Lebanon6.440.23
LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 23Lebanon6.620.17
LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 27Lebanon6.970.14
LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 22Lebanon6.590.12
LEBANON (REPUBLIC OF) MTN RegS 26Lebanon7.030.11
LEBANON REPUBLIC OF (GOVERNMENT) RegS 30Lebanon7.170.10
SRI LANKA (DEMOCRATIC SOCIALIST RE RegS 25Sri Lanka7.260.08
SRI LANKA (DEMOCRATIC SOCIALIST RE RegS 19Sri Lanka5.150.08
SLOVAKIA (REPUBLIC OF) RegS 22Slovak Republic1.950.06
STATE GRID OVERSEAS INVESTMENT 201 RegS 19China1.800.06
LEBANON REPUBLIC OF (GOVERNMENT) RegS 20Lebanon5.980.04
SRI LANKA DEMOCRATIC SOCIALIST (RE RegS 22Sri Lanka6.530.04
SRI LANKA DEMOCRATIC SOCIALIST (RE RegS 20Sri Lanka5.690.03
CHINA DEVELOPMENT BANK CORP MTN RegS 20China1.910.02
BLK CSH FND TREASURY SL AGENCY -United States0.470.02
PAKISTAN (ISLAMIC REPUBLIC OF) RegS 19Pakistan5.300.00
LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 18Lebanon5.320.00
SRI LANKA DEMOCRATIC SOCIALIST (RE RegS 21Sri Lanka6.150.00
PAKISTAN (ISLAMIC REPUBLIC OF) RegS 24Pakistan7.31-0.01
HUNGARY (REPUBLIC OF) 21Hungary3.23-0.02


Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)

BondCountryYieldYield Change %pts
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 18Venezuela41.73-4.37
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19Venezuela38.89-3.99
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20Venezuela31.87-2.94
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 26Venezuela27.04-2.93
PETROLEOS DE VENEZUELA SA MTN RegS 21Venezuela35.79-2.86
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 31Venezuela26.34-2.78
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 23Venezuela28.45-2.71
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 22Venezuela33.46-2.60
VENEZUELA (BOLVARIAN REPUBLIC OF) 34Venezuela22.40-2.58
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 25Venezuela24.17-2.45
VENEZUELA (BOLIVARIAN REPUBLIC OF) RegS 24Venezuela25.39-2.44
VENEZUELA (BOLIVARIAN REPUBLIC OF) 27Venezuela21.71-2.43
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 28Venezuela23.83-2.43
PETROLEOS DE VENEZUELA SA RegS 22Venezuela35.94-2.14
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 38Venezuela18.23-2.02
PETROLEOS DE VENEZUELA SA RegS 24Venezuela27.93-1.77
PETROLEOS DE VENEZUELA SA RegS 26Venezuela23.64-1.72
ZAMBIA (REPUBLIC OF) RegS 24Zambia10.81-1.31
PETROLEOS DE VENEZUELA SA RegS 27Venezuela20.90-1.27
ZAMBIA (REPUBLIC OF) RegS 27Zambia11.01-1.14


Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)

BondCountryYieldYield Change %pts
CSN RESOURCES SA RegS 20Brazil27.803.88
SAMARCO MINERACAO SA RegS 22Brazil23.043.44
BANCO SANTANDER MEXICO SA (MEXICO) RegS 22Mexico3.640.11
HYUNDAI CAPITAL AMERICA RegS 17Korea (South)1.610.10
BANK OF CHINA LTD / HONG KONG MTN RegS 25China3.020.05
BANK OF COMMUNICATIONS CO LTD (HON MTN RegS 18China1.730.03
SINOCHEM OVERSEAS CAPITAL CO LTD RegS 20China2.930.03
BLK CSH FND TREASURY SL AGENCY -United States0.470.02
EXPORT-IMPORT BANK OF KOREA 21Korea (South)2.020.02
ITAU UNIBANCO HOLDING SA RegS 20Brazil4.500.02
ICICI BANK LIMITED RegS 22India3.490.02
JBS INVESTMENTS GMBH RegS 24Brazil6.750.00
ADCB FINANCE (CAYMAN) LTD MTN RegS 18United Arab Emirates2.350.00
CITIC PACIFIC LTD MTN RegS 21China2.73-0.01
BANGKOK BANK PUBLIC COMPANY LIMITE RegS 20Thailand2.15-0.02
EXPORT-IMPORT BANK OF KOREA 25Korea (South)2.41-0.03
STATE BANK OF INDIA/LONDON RegS 19India2.17-0.03
KOREA EXCHANGE BANK RegS 19Korea (South)1.76-0.03
CHINA OVERSEAS FINANCE (CAYMAN I L RegS 20China2.66-0.03
AMERICA MOVIL SA DE CV 17Mexico1.56-0.03


Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly

BondCountryYieldYield Change %pts
ODEBRECHT DRILL VIII/IX RegS 21Brazil60.71-6.93
PETROLEOS DE VENEZUELA SA RegS 17Venezuela63.31-4.66
PETROLEOS DE VENEZUELA SA MTN RegS 21Venezuela36.28-2.37
PETROLEOS DE VENEZUELA SA RegS 24Venezuela27.50-2.28
PETROLEOS DE VENEZUELA SA RegS 22Venezuela35.30-2.13
PETROLEOS DE VENEZUELA SA RegS 26Venezuela23.53-1.84
VEDANTA RESOURCES PLC RegS 21India13.26-1.54
PETROLEOS DE VENEZUELA SA RegS 27Venezuela20.66-1.42
ESKOM HOLDINGS LTD RegS 21South Africa5.96-1.16
PETROLEOS DE VENEZUELA SA RegS 37Venezuela17.16-1.06
PETROBRAS GLOBAL FINANCE BV 40Brazil8.77-0.95
VALE OVERSEAS LIMITED 22Brazil5.72-0.94
PETROBRAS GLOBAL FINANCE BV 41Brazil8.71-0.92
PETROLEOS DE VENEZUELA SA RegS 35Venezuela24.93-0.84
PETROBRAS GLOBAL FINANCE BV 44Brazil9.03-0.78
GTL TRADE FINANCE INC RegS 24Brazil7.95-0.77
VALE OVERSEAS LIMITED 39Brazil7.71-0.76
BANCO NACIONAL DE DESENVOLVIMENTO RegS 19Brazil4.48-0.74
PETROBRAS GLOBAL FINANCE BV 15Brazil9.01-0.74
ECOPETROL SA 19Colombia2.51-0.73


Country Average Sovereign Yield Change USD Eurobonds Weekly

CountryAverage YieldYield Average change % pts
Lebanon6.520.11
Slovak Republic1.950.06
Sri Lanka6.160.05
United States0.470.02
Pakistan6.31-0.01
Jamaica6.13-0.05
Paraguay5.70-0.06
China2.68-0.08
Hungary3.59-0.09
Poland2.56-0.10
El Salvador8.90-0.11
Lithuania2.40-0.11
Vietnam4.37-0.12
Philippines2.59-0.15
Malaysia3.63-0.16
Romania3.56-0.20
Egypt6.71-0.21
Croatia (Hrvatska)4.30-0.22
Uruguay4.21-0.22
Serbia3.78-0.23
Ecuador10.55-0.24
Argentina6.32-0.24
Panama3.14-0.25
Peru3.65-0.27
Gabon9.00-0.28
Dominican Republic5.61-0.28
Indonesia4.20-0.29
Tunisia7.19-0.29
Russian Federation4.05-0.31
Chile2.89-0.33
Turkey4.25-0.34
Costa Rica6.45-0.34
Mexico4.20-0.35
Kenya8.13-0.36
Kazakhstan4.72-0.38
Ethiopia7.73-0.38
Morocco3.32-0.41
Cote D'Ivoire (Ivory Coast)6.73-0.44
South Africa4.85-0.50
Ukraine8.44-0.53
Brazil4.99-0.53
Colombia3.82-0.53
Angola9.66-0.56
Azerbaijan5.26-0.62
Iraq10.37-0.62
Mongolia8.77-0.75
Ghana10.50-0.95
Zambia10.91-1.23
Venezuela27.48-2.43


Country Average Corporate Yield Change USD Eurobonds Weekly

CountryAverage YieldYield Average change % pts
United States0.470.02
Jamaica13.46-0.05
Korea (South)2.14-0.06
Thailand2.35-0.08
Philippines2.67-0.08
China3.50-0.10
Malaysia2.30-0.14
Israel3.79-0.18
Qatar2.77-0.18
United Arab Emirates3.38-0.20
Morocco4.70-0.20
Peru3.23-0.21
Turkey3.76-0.24
Chile3.67-0.26
Argentina6.81-0.26
Mexico4.59-0.27
Russian Federation4.09-0.28
India4.41-0.28
Indonesia4.67-0.29
Colombia5.35-0.43
Brazil9.21-0.45
Kazakhstan4.73-0.50
South Africa4.75-0.54
Azerbaijan5.53-0.61
Venezuela31.08-2.07


Top 30 GEM Souvereign Eurobonds by Yield

NameISINcountryMaturityCouponYTW
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AD26VenezuelaDec 1, 20187.0041.73
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AN08VenezuelaOct 13, 20197.7538.89
PETROLEOS DE VENEZUELA SA RegSUSP7807HAM71VenezuelaFeb 17, 202212.7535.94
PETROLEOS DE VENEZUELA SA MTN RegSUSP7807HAP03VenezuelaNov 17, 20219.0035.79
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AC16VenezuelaAug 23, 202212.7533.46
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AG56VenezuelaDec 9, 20206.0031.87
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP17625AA59VenezuelaMay 7, 20239.0028.45
PETROLEOS DE VENEZUELA SA RegSUSP7807HAT25VenezuelaMay 16, 20246.0027.93
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AE71VenezuelaOct 21, 202611.7527.04
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AD98VenezuelaAug 5, 203111.9526.34
VENEZUELA (BOLIVARIAN REPUBLIC OF) RegSUSP97475AP55VenezuelaOct 13, 20248.2525.39
PETROLEOS DE VENEZUELA SA RegSUSP7807HAQ85VenezuelaMay 17, 20359.7524.78
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSXS0217249126VenezuelaApr 21, 20257.6524.17
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP17625AB33VenezuelaMay 7, 20289.2523.83
PETROLEOS DE VENEZUELA SA RegSUSP7807HAR68VenezuelaNov 15, 20266.0023.64
VENEZUELA (BOLVARIAN REPUBLIC OF)US922646BL74VenezuelaJan 13, 20349.3822.40
VENEZUELA (BOLIVARIAN REPUBLIC OF)US922646AS37VenezuelaSep 15, 20279.2521.71
PETROLEOS DE VENEZUELA SA RegSXS0294364954VenezuelaApr 12, 20275.3820.90
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AJ95VenezuelaMar 31, 20387.0018.23
PETROLEOS DE VENEZUELA SA RegSXS0294367205VenezuelaApr 12, 20375.5017.16
ZAMBIA (REPUBLIC OF) RegSXS1267081575ZambiaJul 30, 20278.9711.01
ECUADOR REPUBLIC OF (GOVERNMENT) RegSXS1199929826EcuadorMar 24, 202010.5010.82
ZAMBIA (REPUBLIC OF) RegSXS1056386714ZambiaApr 14, 20248.5010.81
GHANA (REPUBLIC OF) RegSXS1108847531GhanaJan 18, 20268.1310.60
GHANA (REPUBLIC OF) RegSXS0956935398GhanaAug 7, 20237.8810.40
IRAQ (REPUBLIC OF) RegSXS0240295575IraqJan 15, 20285.8010.37
ECUADOR (REPUBLIC OF) RegSXS1080330704EcuadorJun 20, 20247.9510.28
ANGOLA (REPUBLIC OF) RegSXS1318576086AngolaNov 12, 20259.509.66
GABONESE REPUBLIC RegSXS1003557870GabonDec 12, 20246.389.00
EL SALVADOR REPUBLIC RegSUSP01012AN67El SalvadorJun 15, 20357.658.90


Top 30 GEM Corporate Eurobonds by Yield

NameISINcountryMaturityCouponYTW
PETROLEOS DE VENEZUELA SA RegSUSP7807HAK16VenezuelaNov 2, 20178.5063.31
ODEBRECHT DRILL VIII/IX RegSUSG67106AA51BrazilJun 30, 20216.3560.71
PETROLEOS DE VENEZUELA SA MTN RegSUSP7807HAP03VenezuelaNov 17, 20219.0036.28
PETROLEOS DE VENEZUELA SA RegSUSP7807HAM71VenezuelaFeb 17, 202212.7535.30
CSN RESOURCES SA RegSUSL21779AA88BrazilJul 21, 20206.5027.80
PETROLEOS DE VENEZUELA SA RegSUSP7807HAT25VenezuelaMay 16, 20246.0027.50
PETROLEOS DE VENEZUELA SA RegSUSP7807HAQ85VenezuelaMay 17, 20359.7524.93
PETROLEOS DE VENEZUELA SA RegSUSP7807HAR68VenezuelaNov 15, 20266.0023.53
SAMARCO MINERACAO SA RegSUSP84050AA46BrazilNov 1, 20224.1323.04
PETROLEOS DE VENEZUELA SA RegSXS0294364954VenezuelaApr 12, 20275.3820.66
PETROLEOS DE VENEZUELA SA RegSXS0294367205VenezuelaApr 12, 20375.5017.16
DIGICEL GROUP LTD RegSUSG27631AD56JamaicaSep 30, 20208.2513.46
VEDANTA RESOURCES PLC RegSUSG9328DAG54IndiaJun 7, 20218.2513.26
EVERGRANDE REAL ESTATE GROUP LTD RegSUSG3225AAD57ChinaOct 30, 20188.759.17
PETROBRAS GLOBAL FINANCE BVUS71647NAK54BrazilMar 17, 20447.259.03
PETROBRAS GLOBAL FINANCE BVUS71647NAN93BrazilJun 5, 21156.859.01
PETROBRAS GLOBAL FINANCE BVUS71645WAQ42BrazilJan 20, 20406.888.77
PETROBRAS GLOBAL FINANCE BVUS71645WAS08BrazilJan 27, 20416.758.71
PETROBRAS GLOBAL FINANCE BVUS71647NAQ25BrazilMay 23, 20268.758.67
MARFRIG OVERSEAS LTD RegSUSG5814RAB45BrazilMay 4, 20209.508.61
PETROBRAS GLOBAL FINANCE BVUS71647NAA72BrazilMay 20, 20435.638.35
PETROBRAS GLOBAL FINANCE BVUS71647NAM11BrazilMar 17, 20246.258.25
PETROBRAS GLOBAL FINANCE BVUS71647NAF69BrazilMay 20, 20234.387.97
GTL TRADE FINANCE INC RegSUSG24422AA83BrazilApr 29, 20245.897.95
VALE OVERSEAS LIMITEDUS91911TAE38BrazilJan 17, 20348.257.77
VALE OVERSEAS LIMITEDUS91911TAH68BrazilNov 21, 20366.887.76
VALE OVERSEAS LIMITEDUS91911TAK97BrazilNov 10, 20396.887.71
YPF SA RegSUSP989MJBE04ArgentinaJul 28, 20258.507.62
PETROBRAS GLOBAL FINANCE BVUS71645WAR25BrazilJan 27, 20215.387.58
PETROBRAS GLOBAL FINANCE BVUS71647NAP42BrazilMay 23, 20218.387.58


Top 30 GEM Local (reasonably rated) Currency Bonds by Yield

NameISINcountryMaturityCouponYTW
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN6W5BrazilJul 1, 20160.0014.27
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN749BrazilOct 1, 20160.0013.87
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN6X3BrazilJan 1, 20170.0013.68
FEDERATIVE REPUBLIC OF BRAZILBRSTNCLTN707BrazilJul 1, 20170.0013.25
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN723BrazilJan 1, 20180.0012.89
BRAZIL FEDERATIVE REPUBLIC OFBRSTNCNTF139BrazilJan 1, 201810.0012.85
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN756BrazilJul 1, 20180.0012.81
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN764BrazilJan 1, 20190.0012.28
BRAZIL (FEDERATIVE REPUBLIC OF)BRSTNCNTF162BrazilJan 1, 201910.0012.19
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF147BrazilJan 1, 202310.0012.14
BRAZIL FEDERATIVE REPUBLIC OFBRSTNCNTF170BrazilJan 1, 202510.0012.08
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF1P8BrazilJan 1, 202710.0012.08
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF0N5BrazilJan 1, 202110.0012.06
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BL31BrazilJan 5, 202212.5011.62
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BN96BrazilJan 10, 202810.2511.39
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BT66BrazilJan 5, 20248.5011.09
RUSSIAN FEDERATIONRU000A0JQZ18Russian FederationAug 3, 20166.909.85
RUSSIAN FEDERATIONRU000A0JS751Russian FederationApr 19, 20177.409.76
RUSSIAN FEDERATIONRU000A0JRJU8Russian FederationJun 14, 20177.409.72
SOUTH AFRICA (REPUBLIC OF)ZAG000096173South AfricaFeb 28, 20488.759.63
SOUTH AFRICA (REPUBLIC OF)ZAG000107012South AfricaJan 31, 20378.509.54
SOUTH AFRICA (REPUBLIC OF)ZAG000077488South AfricaFeb 28, 20416.509.54
SOUTH AFRICA (REPUBLIC OF)ZAG000030404South AfricaMar 31, 20366.259.41
RUSSIAN FEDERATION RegSXS0564087541Russian FederationMar 10, 20187.859.35
RUSSIAN FEDERATIONRU000A0JRCJ6Russian FederationMar 15, 20187.509.30
SOUTH AFRICA (REPUBLIC OF)ZAG000106998South AfricaJan 31, 20308.009.23
RUSSIAN FEDERATIONRU000A0JS4M5Russian FederationFeb 27, 20197.509.13
RUSSIAN FEDERATIONRU000A0JU9V1Russian FederationMay 15, 20196.709.12
TURKEY (REPUBLIC OF)TRT270923T11TurkeySep 27, 20238.809.08
TURKEY (REPUBLIC OF)TRT120325T12TurkeyMar 12, 20258.009.08


Big Country Table - Stance, Ratings and Datamine

NCountryNaCountryStanceAvg Sovereign YieldSov. Yield Avg Wk Change btpsAvg Corporate YieldCorp. Yield Avg Wk Change btpsGDP GrowthCountry Weight in Sov IndexCountry Weight in Corp IndexTotal GDP $ bnGDP per capita PPP $Savings to GDPInflationPopulationCurrent Account to GDPBudget Revenue to GDPGov Debt to GDPBudget Balance to GDPSandP RatingMoodysFitchDgong
TurkeyTurkeyUnderweight4.25-34.003.76-24.003.1485.69482.9518752.5120188.4112.4747.0277.738-4.21536.07925.923-2.571BB+Baa3BBB-BB-
BrazilBrazilUnderweight4.99-53.009.21-45.00-1.0265.468417.82841903.93415940.64315.3448.004204.451-3.66334.46234.397-4.757BB+Baa3BBBA-
MexicoMexicoUnderweight4.20-35.004.59-27.002.9975.425811.55521231.98218369.50419.2373.065121.087-2.15922.03245.007-3.593AAAA3BBB+BBB
PhilippinesPhilippinesOverweight2.59-15.002.67-8.006.7135.32360.4993308.0337348.0625.5342.421101.4235.50418.725-1.459BBBBaa3BBB-BBB
IndonesiaIndonesiaOverweight4.20-29.004.67-29.005.1995.26172.5203895.67711134.86530.7594.601255.077-3.02115.157-2.261BB+Baa3BBB-BBB-
RussiaRussian FederationOverweight4.05-31.004.09-28.00-3.8335.18629.21731175.99624066.82222.96512.016143.75.37934.755-2.488BB+Ba1BBB-A
ColombiaColombiaOverweight3.82-53.005.35-43.003.3964.39072.5946332.38413850.98616.3723.59848.209-5.75526.30730.232-2.937BBBBaa2BBBBBB+
ChinaChinaOverweight2.68-8.003.50-10.006.7624.28997.670711211.92813801.06548.5351.21374.9573.17828.947-1.617AA-Aa3A+AA+
HungaryHungaryOverweight3.59-9.002.74.0916126.69125895.11126.5881.79.8574.76446.19770.486-2.275BBBa1BB+BBB-
PolandPolandUnderweight2.56-10.003.4833.6866491.23926210.05518.8870.36338.019-1.80439.07123.757-2.824A-A2A-A-
South AfricaSouth AfricaUnderweight4.85-50.004.75-54.002.0023.63561.4357323.80913215.43416.158554.86-4.56828.31342.549-3.704BBB-Baa1BBBA
VenezuelaVenezuelaUnderweight27.48-243.0031.08-207.00-73.50803.3616169.67316346.47115.33694.90730.933-4.68122.635BB2B+BB+
PeruPeruOverweight3.65-27.003.23-21.003.8093.21841.3003190.26812187.36221.9982.20331.911-4.57621.0414.945-1.036BBB+A3BBB+BBB+
KazakhstanKazakhstanOverweight4.72-38.004.73-50.002.0253.09412.3742203.1424359.64226.4794.89217.683-4.07120.812-18.134BBB+Baa2BBBBBB-
CroatiaCroatia (Hrvatska)Overweight4.30-22.000.453.062048.87421169.42519.622-0.6044.2362.2142.611-3.216BB+Baa3BBBBBB-
LebanonLebanonUnderweight6.5211.002.53.036754.67118422.45-0.77634.554-22.21619.636123.832-12.039BB1B
UkraineUkraineUnderweight8.44-53.00-5.5482.603085.448277.6011026.6542.685-1.42442.8491.482-3.161BBB-Caa1CCCB-
ArgentinaArgentinaOverweight6.32-24.006.81-26.00-0.3112.11160.2414563.13822458.84715.75420.54342.434-1.71535.667-4.1SDCaa1RDD
LithuaniaLithuaniaUnderweight2.40-11.002.8492.039942.64228210.26819.5550.4832.9290.21332.7217.18-1.282A-Baa1A-BBB-
RomaniaRomaniaUnderweight3.56-20.002.72.0348189.74720526.44822.6252.17419.826-1.11332.037-1.097BBB-Baa3BBB-BB+
ChileChileOverweight2.89-33.003.67-26.002.7111.85042.5142250.47223556.2619.6042.86418.006-1.15423.379-2.668-2.242AA-Aa3A+AA
UruguayUruguayUnderweight4.21-22.002.81.771956.84521246.89317.2727.4263.416-3.84230.13623.755-3.385BBB-Baa2BBB-BB+
SerbiaSerbiaUnderweight3.78-23.00-0.51.675340.66513380.34913.6434.27.164-4.73638.70872.789-4.103BB-B1B+BB-
MalaysiaMalaysiaOverweight3.63-16.002.30-14.004.81.53970.9447327.8925631.55330.0172.730.7762.10722.853-3.973A-A3A-A+
Dominican RepublicDominican RepublicUnderweight5.61-28.005.11.431266.19913554.20317.8833.04210.792-2.43614.79-2.701B+B1B
PanamaPanamaUnderweight3.14-25.006.1031.376047.47820418.01418.8922.44.006-10.40822.78340.36-1.422BBBBaa2BBBA-
Sri LankaSri LankaUnderweight6.165.006.51.313880.59111068.99625.93.23121.107-2.03313.333B+B1BB-B+
IraqIraqOverweight10.37-62.001.3150.8345173.81914448.11414.805336.977-9.57140.93
C?te dIvoireCote D'Ivoire (Ivory Coast)Overweight6.73-44.000.8122
LatviaLatviaUnderweight2.2980.753828.36224540.59321.4741.6492.026-2.20735.09534.826-1.192A-Baa1A-BB
EcuadorEcuadorOverweight10.55-24.001.8860.7233102.66311379.64423.7013.00216.279-3.29933.946-3.881B+Caa1BB-
AzerbaijanAzerbaijanOverweight5.26-62.005.53-61.000.6310.699862.19917745.17828.1888.8949.4595.31929.501BBB-Baa3BBB-
Costa RicaCosta RicaUnderweight6.45-34.003.80.630552.815365.77213.64944.837-3.6413.80642.378BBBaa3BB+
PakistanPakistanUnderweight6.31-1.004.30.6084n/a4886.27913.784190.008-1.29414.84960.825B-Caa1CCC
KenyaKenyaUnderweight8.13-36.006.8560.596065.8993238.51416.5255.21644.076-7.65821.28247.397B+B+B
Slovak RepublicSlovak RepublicOverweight1.956.002.8810.539487.52829209.56420.9470.7145.4240.40838.452-1.903
GabonGabonOverweight9.00-28.004.4290.514115.02723811.5228.5762.51.608-2.34622.964BB-BB-
MoroccoMoroccoUnderweight3.32-41.004.70-20.004.3650.49590.8213102.0447931.32430.0721.533.503-3.41627.01965.029-5.663BBB-Ba1BBB-BBB
AngolaAngolaOverweight9.66-56.004.4970.4038106.1497373.0352.872925.115-6.34625.606BB-Ba3BB-BB-
ZambiaZambiaOverweight10.91-123.006.7380.389828.4454235.65831.179715.520.27318.02931.923B+B+
VietnamVietnamUnderweight4.37-12.0060.3652204.4935963.6831.9613.191.5784.820.69962.214BB-B1B+B+
El SalvadorEl SalvadorUnderweight8.90-11.002.50.359326.1528260.98810.3440.66.377-4.3318.043BB-Ba2BB-
ParaguayParaguayUnderweight5.70-6.003.9920.351730.7548716.52614.5544.57.017-1.72524.337-1.171BB-B1B+
EgyptEgyptUnderweight6.71-21.004.0410.3465n/a11193.50411.2891188.434-3.27823.44383.002-11.518CCC+Caa1B-B-
GhanaGhanaUnderweight10.50-95.003.490.317739.2194204.12716.5591226.886-7.03619.20467.471BB+B
MongoliaMongoliaOverweight8.77-75.004.4450.212712.45512335.30321.5127.9752.969-11.07525.442BB-B1B+BB-
Hong KongHong KongUnderweight3.0607AAAAa1AA+AAA
IndiaIndiaUnderweight4.41-28.007.464.85822308.0186265.63530.8055.8191276.267-1.27419.495-7.071BBB-Baa3BBB-BBB+
IsraelIsraelUnderweight3.79-18.003.5241.0819306.87333495.1722.6690.6848.3714.4937.27364.354-3.502A+A1AA-
JamaicaJamaicaUnderweight6.13-5.0013.46-5.001.6750.793813.858783.8912.58472.814-5.03527.09CCC+B3B-
KoreaKorea (South)Overweight2.14-6.003.2817.93031435.07636601.07335.1352.57550.6417.11821.36536.3440.41
QatarQatarOverweight2.77-18.007.1272.0557196.964143532.44653.311.782.4148.35940.11318.13AAAa2AA-
SingaporeSingaporeOverweight3.0312.8012296.05785198.15949.2710.8075.52320.66222.3921.456AAAAaaAAAAAA
ThailandThailandUnderweight2.35-8.003.7122.0484386.29114979.83231.5152.05668.8384.42322.727-1.418BBB+Baa1BBB+BBB
United Arab EmiratesUnited Arab EmiratesOverweight3.38-20.003.1544.3014363.70765149.03928.2442.29.5815.330.651-253.283Aa2BBB+