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Chart: World's scarriest investment. Emerging Markets Yields are mostly wider - ahead of the possible FED move

Source: ML




MidLincoln Counry Eurobond Indexes Update



Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondPETROLEOS DE VENEZUELA SA RegS 22PETROLEOS DE VENEZUELA SA RegS 24VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 23

Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondVENEZUELA (BOLVARIAN REPUBLIC OF) RegS 181MDB GLOBAL INVESTMENTS LTD 23RUSSIAN (FEDERATION OF) RegS 30EXPORT-IMPORT BANK OF CHINA RegS 19

Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCSN RESOURCES SA RegS 20PETROLEOS DE VENEZUELA SA MTN RegS 21DIGICEL GROUP LTD RegS 20SAMARCO MINERACAO SA RegS 22

Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondPETROLEOS DE VENEZUELA SA RegS 17ODEBRECHT DRILL VIII/IX RegS 21CAIXA ECONOMICA FEDERAL RegS 17VEDANTA RESOURCES PLC RegS 21

Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryMongoliaGabonVenezuelaZambiaIraq

Country Average Corporate Yield Change USD Eurobonds Weekly
CountryJamaicaAzerbaijanMoroccoArgentinaSouth Africa

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

Top 30 GEM Corporate Eurobonds by Yield
NameODEBRECHT DRILL VIII/IX RegSPETROLEOS DE VENEZUELA SA 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 (GOV

Big Country Table - Stance, Ratings and Datamine


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

BondCountryYieldYield Change % pts
PETROLEOS DE VENEZUELA SA RegS 22Venezuela30.521.12
PETROLEOS DE VENEZUELA SA RegS 24Venezuela26.291.04
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20Venezuela28.710.94
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 23Venezuela27.100.82
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 22Venezuela30.940.81
VENEZUELA (BOLIVARIAN REPUBLIC OF) RegS 24Venezuela24.380.79
ESKOM HOLDINGS SOC LTD MTN RegS 23South Africa6.810.78
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 25Venezuela23.060.75
MONGOLIA (GOVERNMENT) RegS 22Mongolia8.480.72
GABONESE REPUBLIC RegS 24Gabon8.310.71
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 28Venezuela22.600.68
VENEZUELA (BOLVARIAN REPUBLIC OF) 34Venezuela21.030.62
ESKOM HOLDINGS LTD RegS 21South Africa6.060.62
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 26Venezuela25.170.60
ZAMBIA (REPUBLIC OF) RegS 24Zambia8.960.60
VENEZUELA (BOLIVARIAN REPUBLIC OF) 27Venezuela21.470.58
ESKOM HOLDINGS SOC LTD MTN RegS 25South Africa7.040.56
PETROLEOS DE VENEZUELA SA RegS 27Venezuela19.790.55
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 31Venezuela23.970.55
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 38Venezuela17.790.54


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

BondCountryYieldYield Change %pts
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 18Venezuela35.01-0.61
1MDB GLOBAL INVESTMENTS LTD 23Malaysia7.05-0.29
RUSSIAN (FEDERATION OF) RegS 30Russian Federation2.35-0.02
EXPORT-IMPORT BANK OF CHINA RegS 19China1.65-0.01
SINOCHEM OVERSEAS CAPITAL CO LTD RegS 20China2.37-0.01
PETRONAS CAPITAL LTD. RegS 19Malaysia1.69-0.01
BLK CSH FND TREASURY SL AGENCY -United States0.530.01
PETROLEOS MEXICANOS 19Mexico3.020.02
TRINIDAD AND TOBAGO (REPUBLIC OF) 144A 26Trinidad and Tobago4.070.02
CHINA DEVELOPMENT BANK CORP MTN RegS 19China1.750.03
BANCO NACIONAL DE DESENVOLVIMENTO RegS 19Brazil3.690.03
SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 22China2.400.03
CROATIA REPUBLIC OF (GOVERNMENT) RegS 21Croatia (Hrvatska)3.540.04
SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 20China1.960.04
CHARMING LIGHT INVESTMENTS LTD MTN RegS 19China2.300.05
STATE GRID OVERSEAS INVESTMENT 201 RegS 19China1.670.05
CROATIA (REPUBLIC OF) RegS 20Croatia (Hrvatska)3.460.05
LEBANON REPUBLIC OF (GOVERNMENT) MTN RegS 18Lebanon5.830.07
RUSSIAN FEDERATION RegS 19Russian Federation2.630.08
PAKISTAN (ISLAMIC REPUBLIC OF) RegS 24Pakistan6.230.08


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

BondCountryYieldYield Change %pts
CSN RESOURCES SA RegS 20Brazil20.442.03
PETROLEOS DE VENEZUELA SA MTN RegS 21Venezuela32.561.52
DIGICEL GROUP LTD RegS 20Jamaica13.151.42
SAMARCO MINERACAO SA RegS 22Brazil24.341.09
PETROLEOS DE VENEZUELA SA RegS 22Venezuela30.360.96
CEMEX FINANCE LLC RegS 24Mexico6.060.95
ESKOM HOLDINGS LTD RegS 21South Africa6.040.70
VALE OVERSEAS LIMITED 36Brazil7.540.64
VALE OVERSEAS LTD 21Brazil5.390.63
ECOPETROL SA 23Colombia4.950.60
PETROLEOS DE VENEZUELA SA RegS 37Venezuela16.250.58
PETROLEOS MEXICANOS 23Mexico4.480.58
GTL TRADE FINANCE INC RegS 24Brazil6.460.58
VALE OVERSEAS LIMITED 39Brazil7.620.57
PETROLEOS DE VENEZUELA SA RegS 24Venezuela25.820.57
VALE OVERSEAS LIMITED 34Brazil7.670.56
PETROBRAS GLOBAL FINANCE BV 21Brazil6.620.56
VALE OVERSEAS LIMITED 22Brazil5.240.55
PETROLEOS MEXICANOS 46Mexico6.420.55
PETROLEOS MEXICANOS 22Mexico4.420.52


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

BondCountryYieldYield Change %pts
PETROLEOS DE VENEZUELA SA RegS 17Venezuela55.56-7.44
ODEBRECHT DRILL VIII/IX RegS 21Brazil65.21-2.03
CAIXA ECONOMICA FEDERAL RegS 17Brazil3.36-0.30
VEDANTA RESOURCES PLC RegS 21India8.41-0.19
JBS INVESTMENTS GMBH RegS 24Brazil7.01-0.11
CELULOSA ARAUCO Y CONSTITUCION SA 22Chile3.34-0.08
BANCO DEL ESTADO DE CHILE RegS 20Chile2.30-0.08
ADCB FINANCE (CAYMAN) LTD MTN RegS 18United Arab Emirates2.08-0.05
CENTRAIS ELETRICAS BRASILEIRAS SA RegS 19Brazil5.13-0.04
AMERICA MOVIL SAB DE CV 20Mexico1.92-0.03
HYUNDAI CAPITAL AMERICA RegS 17Korea (South)1.47-0.02
KOREA NATIONAL OIL CORP RegS 19Korea (South)1.63-0.02
VALE OVERSEAS LIMITED 20Brazil4.15-0.01
BANGKOK BANK PUBLIC COMPANY LIMITE RegS 20Thailand2.14-0.01
ALIBABA GROUP HOLDING LTD 19China1.87-0.01
KEB HANA BANK RegS 19Korea (South)1.60-0.01
TENCENT HOLDINGS LIMITED MTN RegS 19China1.85-0.01
BANCOLOMBIA SA 20Colombia4.000.00
PETRONAS CAPITAL LTD. RegS 19Malaysia1.640.00
BLK CSH FND TREASURY SL AGENCY -United States0.530.01


Country Average Sovereign Yield Change USD Eurobonds Weekly

CountryAverage YieldYield Average change % pts
Mongolia8.480.72
Gabon8.310.71
Venezuela25.220.58
Zambia9.160.56
Iraq9.310.52
Ghana9.660.49
Angola9.770.44
Ecuador10.310.39
Argentina6.230.39
Azerbaijan5.070.38
Costa Rica6.070.37
El Salvador7.270.36
South Africa4.610.36
Colombia3.880.36
Sri Lanka5.700.36
Brazil4.830.35
Ukraine8.220.35
Mexico4.170.33
Dominican Republic5.260.33
Cote D'Ivoire (Ivory Coast)5.900.33
Kenya7.300.32
Peru3.550.31
Oman4.150.30
Panama3.060.30
Paraguay5.390.30
Chile2.990.30
Ethiopia7.110.29
Vietnam4.100.29
India3.380.26
Indonesia3.910.25
Kazakhstan4.540.25
Uruguay3.970.24
Jamaica5.860.23
Lebanon6.690.22
Turkey4.690.22
Romania3.160.21
Serbia3.480.21
Philippines2.670.20
Russian Federation4.000.19
Egypt5.930.17
Hungary3.220.17
Morocco3.270.17
Poland2.390.16
Tunisia6.040.12
China2.460.11
Lithuania2.010.11
Pakistan5.080.11
Croatia (Hrvatska)3.590.09
Slovak Republic1.750.08
Malaysia3.500.05
Trinidad and Tobago4.070.02
United States0.530.01


Country Average Corporate Yield Change USD Eurobonds Weekly

CountryAverage YieldYield Average change % pts
Jamaica13.151.42
Azerbaijan5.380.48
Morocco4.640.45
Argentina6.470.41
South Africa4.600.36
Brazil8.350.33
Indonesia4.380.32
Colombia5.020.30
Mexico4.530.30
Kazakhstan6.570.18
Philippines2.520.17
Russian Federation4.060.16
Turkey4.990.15
China3.140.13
Israel3.260.13
United Arab Emirates2.870.12
Malaysia2.170.10
Qatar2.580.10
India3.740.09
Chile3.570.08
Korea (South)2.070.07
Peru2.950.07
Thailand2.230.03
United States0.530.01
Venezuela27.92-0.34


Top 30 GEM Souvereign Eurobonds by Yield

NameISINcountryMaturityCouponYTW
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AD26VenezuelaDec 1, 20187.0035.01
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AN08VenezuelaOct 13, 20197.7534.96
PETROLEOS DE VENEZUELA SA MTN RegSUSP7807HAP03VenezuelaNov 17, 20219.0032.07
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AC16VenezuelaAug 23, 202212.7530.94
PETROLEOS DE VENEZUELA SA RegSUSP7807HAM71VenezuelaFeb 17, 202212.7530.52
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AG56VenezuelaDec 9, 20206.0028.71
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP17625AA59VenezuelaMay 7, 20239.0027.10
PETROLEOS DE VENEZUELA SA RegSUSP7807HAT25VenezuelaMay 16, 20246.0026.29
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AE71VenezuelaOct 21, 202611.7525.17
VENEZUELA (BOLIVARIAN REPUBLIC OF) RegSUSP97475AP55VenezuelaOct 13, 20248.2524.38
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AD98VenezuelaAug 5, 203111.9523.97
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSXS0217249126VenezuelaApr 21, 20257.6523.06
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP17625AB33VenezuelaMay 7, 20289.2522.60
PETROLEOS DE VENEZUELA SA RegSUSP7807HAR68VenezuelaNov 15, 20266.0021.95
VENEZUELA (BOLIVARIAN REPUBLIC OF)US922646AS37VenezuelaSep 15, 20279.2521.47
PETROLEOS DE VENEZUELA SA RegSUSP7807HAQ85VenezuelaMay 17, 20359.7521.36
VENEZUELA (BOLVARIAN REPUBLIC OF)US922646BL74VenezuelaJan 13, 20349.3821.03
PETROLEOS DE VENEZUELA SA RegSXS0294364954VenezuelaApr 12, 20275.3819.79
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AJ95VenezuelaMar 31, 20387.0017.79
PETROLEOS DE VENEZUELA SA RegSXS0294367205VenezuelaApr 12, 20375.5016.25
ECUADOR (REPUBLIC OF) RegSXS1080330704EcuadorJun 20, 20247.9510.40
ECUADOR REPUBLIC OF (GOVERNMENT) RegSXS1458514673EcuadorMar 28, 202210.7510.37
ECUADOR REPUBLIC OF (GOVERNMENT) RegSXS1199929826EcuadorMar 24, 202010.5010.15
GHANA (REPUBLIC OF) RegSXS1108847531GhanaJan 18, 20268.139.77
ANGOLA (REPUBLIC OF) RegSXS1318576086AngolaNov 12, 20259.509.77
GHANA (REPUBLIC OF) RegSXS0956935398GhanaAug 7, 20237.889.55
ZAMBIA (REPUBLIC OF) RegSXS1267081575ZambiaJul 30, 20278.979.36
IRAQ (REPUBLIC OF) RegSXS0240295575IraqJan 15, 20285.809.31
ZAMBIA (REPUBLIC OF) RegSXS1056386714ZambiaApr 14, 20248.508.96
MONGOLIA (GOVERNMENT) RegSUS60937GAB23MongoliaDec 5, 20225.138.48


Top 30 GEM Corporate Eurobonds by Yield

NameISINcountryMaturityCouponYTW
ODEBRECHT DRILL VIII/IX RegSUSG67106AA51BrazilJun 30, 20216.3565.21
PETROLEOS DE VENEZUELA SA RegSUSP7807HAK16VenezuelaNov 2, 20178.5055.56
PETROLEOS DE VENEZUELA SA MTN RegSUSP7807HAP03VenezuelaNov 17, 20219.0032.56
PETROLEOS DE VENEZUELA SA RegSUSP7807HAM71VenezuelaFeb 17, 202212.7530.36
PETROLEOS DE VENEZUELA SA RegSUSP7807HAT25VenezuelaMay 16, 20246.0025.82
SAMARCO MINERACAO SA RegSUSP84050AA46BrazilNov 1, 20224.1324.34
PETROLEOS DE VENEZUELA SA RegSUSP7807HAR68VenezuelaNov 15, 20266.0021.95
PETROLEOS DE VENEZUELA SA RegSUSP7807HAQ85VenezuelaMay 17, 20359.7521.26
CSN RESOURCES SA RegSUSL21779AA88BrazilJul 21, 20206.5020.44
PETROLEOS DE VENEZUELA SA RegSXS0294364954VenezuelaApr 12, 20275.3819.58
PETROLEOS DE VENEZUELA SA RegSXS0294367205VenezuelaApr 12, 20375.5016.25
DIGICEL GROUP LTD RegSUSG27631AD56JamaicaSep 30, 20208.2513.15
KAZKOMMERTSBANK JSC RegSXS0867478124KazakhstanDec 21, 20225.5012.85
PETROBRAS GLOBAL FINANCE BVUS71647NAN93BrazilJun 5, 21156.858.53
VEDANTA RESOURCES PLC RegSUSG9328DAG54IndiaJun 7, 20218.258.41
PETROBRAS GLOBAL FINANCE BVUS71647NAK54BrazilMar 17, 20447.258.32
PETROBRAS GLOBAL FINANCE BVUS71645WAS08BrazilJan 27, 20416.758.29
PETROBRAS GLOBAL FINANCE BVUS71645WAQ42BrazilJan 20, 20406.888.23
PETROBRAS GLOBAL FINANCE BVUS71647NAA72BrazilMay 20, 20435.638.06
PETROBRAS GLOBAL FINANCE BVUS71647NAQ25BrazilMay 23, 20268.757.69
VALE OVERSEAS LIMITEDUS91911TAE38BrazilJan 17, 20348.257.67
VALE OVERSEAS LIMITEDUS91911TAK97BrazilNov 10, 20396.887.62
YPF SA RegSUSP989MJBE04ArgentinaJul 28, 20258.507.59
VALE OVERSEAS LIMITEDUS91911TAH68BrazilNov 21, 20366.887.54
YPF SA RegSUSP989MJAY76ArgentinaApr 4, 20248.757.50
EVERGRANDE REAL ESTATE GROUP LTD RegSUSG3225AAD57ChinaOct 30, 20188.757.32
VALE SAUS91912EAA38BrazilSep 11, 20425.637.16
PETROBRAS GLOBAL FINANCE BVUS71647NAM11BrazilMar 17, 20246.257.12
ECOPETROL SAUS279158AE95ColombiaSep 18, 20437.387.12
JBS INVESTMENTS GMBH RegSUSA29866AB53BrazilApr 3, 20247.257.01


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

NameISINcountryMaturityCouponYTW
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN749BrazilOct 1, 20160.0014.1
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN6X3BrazilJan 1, 20170.0013.9
BRAZIL FEDERATIVE REPUBLIC OF (GOVBRSTNCLTN707BrazilJul 1, 20170.0013.1
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN723BrazilJan 1, 20180.0012.6
BRAZIL FEDERATIVE REPUBLIC OFBRSTNCNTF139BrazilJan 1, 201810.0012.6
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN756BrazilJul 1, 20180.0012.3
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF1P8BrazilJan 1, 202710.0012.2
BRAZIL FEDERATIVE REPUBLIC OFBRSTNCNTF170BrazilJan 1, 202510.0012.1
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF147BrazilJan 1, 202310.0012.1
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF0N5BrazilJan 1, 202110.0012.0
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN764BrazilJan 1, 20190.0012.0
BRAZIL (FEDERATIVE REPUBLIC OF)BRSTNCNTF162BrazilJan 1, 201910.0012.0
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BN96BrazilJan 10, 202810.2510.0
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BL31BrazilJan 5, 202212.509.91
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BT66BrazilJan 5, 20248.509.91
TURKEY (REPUBLIC OF)TRT240724T15TurkeyJul 24, 20249.009.59
TURKEY (REPUBLIC OF)TRT120325T12TurkeyMar 12, 20258.009.58
TURKEY (REPUBLIC OF)TRT110226T13TurkeyFeb 11, 202610.609.57
TURKEY (REPUBLIC OF)TRT270923T11TurkeySep 27, 20238.809.55
TURKEY (REPUBLIC OF)TRT140922T17TurkeySep 14, 20228.509.52
SOUTH AFRICA (REPUBLIC OF)ZAG000107012South AfricaJan 31, 20378.509.32
SOUTH AFRICA (REPUBLIC OF)ZAG000096173South AfricaFeb 28, 20488.759.31
SOUTH AFRICA (REPUBLIC OF)ZAG000077488South AfricaFeb 28, 20416.509.27
SOUTH AFRICA (REPUBLIC OF)ZAG000030404South AfricaMar 31, 20366.259.19
SOUTH AFRICA (REPUBLIC OF)ZAG000106998South AfricaJan 31, 20308.009.05
RUSSIAN FEDERATIONRU000A0JS751Russian FederationApr 19, 20177.409.04
TURKEY (REPUBLIC OF)TRT150120T16TurkeyJan 15, 202010.509.03
RUSSIAN FEDERATIONRU000A0JRJU8Russian FederationJun 14, 20177.409.01
TURKEY (REPUBLIC OF)TRT100719T18TurkeyJul 10, 20198.508.96
SOUTH AFRICA (REPUBLIC OF)ZAG000016320South AfricaDec 21, 202610.508.69


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
TurkeyTurkeyUnderweight4.6922.004.9915.003.8005.69482.9518751.18621198.48415.42010.87078.559-3.61635.33621.924-1.993BB+Baa3BBB-BB-
BrazilBrazilUnderweight4.8335.008.3533.00-3.7985.468417.82841534.78215048.62917.1167.146206.082-2.02931.98142.944-7.144BB+Baa3BBBA-
MexicoMexicoUnderweight4.1733.004.5330.002.4115.425811.55521082.43117905.51920.4213.310128.632-2.56222.28648.637-4.830AAAA3BBB+BBB
PhilippinesPhilippinesOverweight2.6720.002.5217.006.0005.32360.4993310.3127612.58425.0832.900104.1952.61319.466-0.574BBBBaa3BBB-BBB
IndonesiaIndonesiaOverweight3.9125.004.3832.004.9005.26172.5203936.95511633.40932.4814.500258.802-2.59013.967-2.698BB+Baa3BBB-BBB-
RussiaRussian FederationOverweight4.0019.004.0616.00-1.8495.18629.21731132.73925185.53125.5027.901146.3004.23530.692-4.287BB+Ba1BBB-A
ColombiaColombiaOverweight3.8836.005.0230.002.5024.39072.5946253.24014171.18517.3505.29148.750-5.98225.53942.155-1.968BBBBaa2BBBBBB+
ChinaChinaOverweight2.4611.003.1413.006.4904.28997.670711383.03315095.20744.4251.8001381.4542.60428.357-2.884AA-Aa3A+AA+
HungaryHungaryOverweight3.2217.002.3004.0916117.72927145.74527.5251.2009.8355.38644.59271.042BBBa1BB+BBB-
PolandPolandUnderweight2.3916.003.5713.6866473.50127670.46318.8410.48138.003-1.75739.35626.071-3.374A-A2A-A-
South AfricaSouth AfricaUnderweight4.6136.004.6036.000.6123.63561.4357266.21313166.21314.4036.90055.831-4.36730.13946.222-3.178BBB-Baa1BBBA
VenezuelaVenezuelaUnderweight25.2258.0027.92-34.00-8.0003.50803.3616185.61115251.50713.053720.03631.416-6.55213.974BB2B+BB+
PeruPeruOverweight3.5531.002.957.003.7443.21841.3003178.64312580.60320.8003.41832.405-3.88120.4527.543-1.715BBB+A3BBB+BBB+
KazakhstanKazakhstanOverweight4.5425.006.5718.000.1353.09412.3742116.15124176.91423.2469.00017.947-3.96418.379-26.952-3.983BBB+Baa2BBBBBB-
CroatiaCroatia (Hrvatska)Overweight3.599.001.9003.062049.92822296.21921.3320.8004.2042.65443.743-2.655BB+Baa3BBBBBB-
LebanonLebanonUnderweight6.6922.001.0003.036752.79718425.821-1.1552.0004.597-21.33219.529134.941-13.571BB1B
UkraineUkraineUnderweight8.2235.001.4812.603083.5508185.25813.50313.04042.501-2.58637.83390.593-2.914BBB-Caa1CCCB-
ArgentinaArgentinaOverweight6.2339.006.4741.00-1.0072.11160.2414437.85622303.20516.20524.95343.564-1.65735.844-5.976SDCaa1RDD
LithuaniaLithuaniaUnderweight2.0111.002.7342.039943.02429716.64715.8301.4302.875-3.04733.85139.413-0.658A-Baa1A-BBB-
RomaniaRomaniaUnderweight3.1621.004.2002.0348181.94421916.39522.7531.50019.869-1.73330.769-3.032BBB-Baa3BBB-BB+
ChileChileOverweight2.9930.003.578.001.5371.85042.5142235.41923803.28320.0583.52718.196-2.10023.512-1.137-2.325AA-Aa3A+AA
UruguayUruguayUnderweight3.9724.001.3871.771953.14521944.29614.8709.0803.427-3.94228.46925.729-3.931BBB-Baa2BBB-BB+
SerbiaSerbiaUnderweight3.4821.001.7501.675337.38114047.02614.3712.5897.132-4.41140.18875.454-2.825BB-B1B+BB-
MalaysiaMalaysiaOverweight3.505.002.1710.004.4001.53970.9447309.26227278.20028.0223.13131.5232.33620.492-3.667A-A3A-A+
Dominican RepublicDominican RepublicUnderweight5.2633.005.4001.431271.43315776.94719.9523.34010.098-1.67314.58135.109-2.603B+B1B
PanamaPanamaUnderweight3.0630.006.1001.376055.75522861.40639.9310.8004.086-6.06920.04236.362-0.574BBBBaa2BBBA-
Sri LankaSri LankaUnderweight5.7036.005.0001.313884.80711127.25930.0784.06021.252-0.79313.590B+B1BB-B+
IraqIraqOverweight9.3152.007.1540.8345148.41116323.3237.9212.00036.067-14.44333.063
C?te dIvoireCote D'Ivoire (Ivory Coast)Overweight5.9033.000.8122
LatviaLatviaUnderweight3.2040.753828.17725883.26920.1821.5721.976-2.02436.02731.920-1.104A-Baa1A-BB
EcuadorEcuadorOverweight10.3139.00-4.4970.723394.01410698.29615.4010.80316.529-2.32930.416-0.599B+Caa1BB-
AzerbaijanAzerbaijanOverweight5.0738.005.3848.00-2.9910.699835.14117486.51125.70418.0009.492-0.18527.927BBB-Baa3BBB-
Costa RicaCosta RicaUnderweight6.0737.004.2500.630556.90816088.60914.9353.0004.900-4.21114.537BBBaa3BB+
PakistanPakistanUnderweight5.0811.004.5000.6084n/a5173.96014.1664.500189.870-1.13515.74558.449B-Caa1CCC
KenyaKenyaUnderweight7.3032.005.9820.596064.6883338.35114.1735.80045.478-8.27320.52053.109B+B+B
Slovak RepublicSlovak RepublicOverweight1.758.003.3470.539489.79731012.83421.7200.6615.418-0.98338.459-2.121
GabonGabonOverweight8.3171.003.1820.514114.16619149.89129.0092.5001.881-7.20219.824BB-BB-
MoroccoMoroccoUnderweight3.2717.004.6445.002.2560.49590.8213108.0968349.71234.7881.30033.8270.42325.27163.809-4.361BBB-Ba1BBB-BBB
AngolaAngolaOverweight9.7744.002.5140.403881.4977380.793-1.07919.19425.868-11.58821.571BB-Ba3BB-BB-
ZambiaZambiaOverweight9.1656.003.4250.389819.1173917.73826.45114.30016.717-3.80716.91655.466B+B+
VietnamVietnamUnderweight4.1029.006.3000.3652201.3616399.67426.6372.00092.6370.56221.658BB-B1B+B+
El SalvadorEl SalvadorUnderweight7.2736.002.5000.359327.3278558.82711.1661.8506.403-3.02718.476BB-Ba2BB-
ParaguayParaguayUnderweight5.3930.002.8930.351726.8048905.02415.0354.5007.115-1.23921.75622.157-2.597BB-B1B+
EgyptEgyptUnderweight5.9317.003.2560.3465n/a12113.09410.61110.23390.203-5.33921.77780.803-11.119CCC+Caa1B-B-
GhanaGhanaUnderweight9.6649.004.5320.317738.1714390.97416.77312.36927.573-7.22020.96772.075BB+B
MongoliaMongoliaOverweight8.4872.000.4060.212711.65212133.48319.2053.7103.014-10.65225.965BB-B1B+BB-
Hong KongHong KongUnderweight3.0607AAAAa1AA+AAA
IndiaIndiaUnderweight3.3826.003.749.007.4544.85822288.7156598.97031.2445.1371309.713-1.50620.982-6.959BBB-Baa3BBB-BBB+
IsraelIsraelUnderweight3.2613.002.8471.0819306.19434335.65323.8750.4548.5284.04537.25362.598-3.593A+A1AA-
JamaicaJamaicaUnderweight5.8623.0013.15142.002.2060.793814.0578990.92513.2675.3002.829-2.86627.963CCC+B3B-
KoreaKorea (South)Overweight2.077.002.6687.93031321.19637699.19335.1711.74850.8358.24520.91135.3400.625
QatarQatarOverweight2.5810.003.4012.0557170.860129511.84852.6922.578-5.03632.395-122.512AAAa2AA-
SingaporeSingaporeOverweight1.7732.8012294.56086853.68647.0811.3435.58421.16421.6772.065AAAAaaAAAAAA
ThailandThailandUnderweight2.233.002.9892.0484409.72416706.32433.4521.57868.9817.95322.307-0.050BBB+Baa1BBB+BBB
United Arab EmiratesUnited Arab EmiratesOverweight2.8712.002.3704.3014325.13567946.48824.7503.2029.856-0.97627.156-273.575Aa2BBB+