"Afghanistan","Asia Pacific","004","AF","AF","The fiscal and current accounts are likely to be badly hit this year as revenues and exports fall.","N","200611","DB7","0","-","Y","020924","A","1","9904"
"Albania","Eastern Europe","008","AL","AB","The easing of  Albania's national lockdown prompts an upgrade in its country risk rating.","N","200702","DB5d","0","+","Y","200626","A","1","155"
"Algeria","Africa","012","DZ","AG","The new finance minister rules out foreign borrowing.","N","200716","DB6a","0","-","Y","190405","A","1","213"
"Angola","Africa","024","AO","AO","The country reels from external shocks and a financial squeeze.","N","200702","DB6c","0","-","Y","200501","A","1","244"
"Argentina","The Americas","032","AR","AR","Economic activity declines sharply in Q1 amid steep falls in demand.","N","200702","DB5b","0","-","Y","190830","A","1","54"
"Australia","Asia Pacific","036","AU","AU","The rating outlook stabilises as macroeconomic indicators start to recover. ","N","200702","DB2d","0","0","Y","200403","A","1","61"
"Austria","Western Europe","040","AT","OS","The growth forecast undergoes another downgrade.","N","200716","DB2d","0","-","Y","200515","A","1","43"
"Azerbaijan","Eastern Europe","031","AZ","JZ","The economy will contract by 10% in 2020 amid coronavirus and deflated oil prices.","N","200730","DB5c","0","-","Y","200403","A","1","7892"
"Bahrain","Middle East","048","BH","BR","Foreign reserves drop to critical levels, necessitating additional capital-raising.","N","200716","DB5d","0","-","Y","200410","A","1","973"
"Bangladesh","Asia Pacific","050","BD","BA","The coronavirus, lockdown, and apparel exports all weigh on growth prospects.","N","200618","DB6a","0","-","Y","200410","A","1","880"
"Belarus","Eastern Europe","112","BY","BY","Widespread protests pose a major threat to President Lukashenko.","N","200702","DB6d","0","-","Y","150106","A","1","7017"
"Belgium","Western Europe","056","BE","BL","The rating outlook undergoes an upgrade, but the business environment remains tough.","N","200709","DB3a","0","0","Y","200327","A","1","32"
"Bolivia","The Americas","068","BO","BO","The reopening of the economy prompts an outlook upgrade.","N","200716","DB6a","0","-","N","190712","A","1","591"
"Bosnia & Herzegovina","Eastern Europe","070","BA","BS","Political problems still beset the country, despite our risk rating upgrade.","N","200709","DB6c","+","+","Y","200703","A","1","3871"
"Botswana","Africa","072","BW","BW","The recession will be deeper than presumed in 2020 with real GDP falling by 6.0%.","N","200716","DB3c","0","0","Y","200410","A","1","267"
"Brazil","The Americas","076","BR","BZ","Political risk remains elevated as the president remains dogged by tensions with the legislature.","N","200709","DB5a","0","-","Y","200605","A","1","55"
"Bulgaria","Eastern Europe","100","BG","BU","The economy gradually reopens - to an uneven recovery.","N","200618","DB3d","0","-","Y","190614","A","1","359"
"Cambodia","Asia Pacific","116","KH","KA","Cambodia's risk rating is downgraded as declining construction, tourism and exports weigh on the outlook.","N","200625","DB6c","0","-","Y","200619","A","1","855"
"Cameroon","Africa","120","CM","CM","Cameroon secures new finance from the IMF and multilateral development banks.","N","200723","DB6a","0","-","N","200417","A","1","237"
"Canada","The Americas","124","CA","CA","The near-term economic recovery remains on track as activity normalises.","N","200716","DB2d","0","0","Y","200410","A","1","1"
"Chile","The Americas","152","CL","CL","The government comes under fire amid a spike in coronavirus infections.","N","200702","DB4b","0","-","Y","200501","A","1","56"
"China","Asia Pacific","156","CN","CP","China's economy will barely grow in 2020 as jobs and services suffer.","N","200709","DB4c","0","0","Y","200508","A","1","86"
"Colombia","The Americas","170","CO","CB","The severe macroeconomic shock caused by the coronavirus pandemic has led to a downgrade in Colombia's risk rating.","N","200625","DB4b","0","-","Y","200619","A","1","57"
"Congo, Dem. Rep. (Zaire)","Africa","180","CD","ZR","The Congolese franc's exchange rate slips to a new low: domestic price pressures will remain high.","N","200723","DB6d","+","-","N","040224","A","1","243"
"Costa Rica","The Americas","188","CR","CC","Dun & Bradstreet downgrades Costa Rica's country risk rating due to the economic and social cost of the coronavirus pandemic.","N","200423","DB5b","0","-","Y","200417","A","1","506"
"Cote d'Ivoire","Africa","384","CI","CI","The government is gradually lifting Covid-19 lockdown restrictions.","N","200709","DB5c","0","-","Y","200403","A","1","225"
"Croatia","Eastern Europe","191","HR","ZC","Improving business sentiment and consumer confidence lead to an upgrade in Croatia's risk rating.","N","200723","DB4b","+","+","Y","200717","A","1","3841"
"Cuba","The Americas","192","CU","CU","A three-phase reopening plan has begun.","N","200625","DB6b","0","-","Y","200417","A","1","5399"
"Cyprus","Western Europe","196","CY","CY","The country's risk rating improves, but the viability of the public finances looks uncertain.","N","200716","DB5a","+","+","Y","200710","A","1","357"
"Czech Republic","Eastern Europe","203","CZ","XC","We have upgraded the Czech Republic’s overall risk rating from DB3c to DB3b.","N","200709","DB3b","+","+","Y","200703","A","1","4202"
"Denmark","Western Europe","208","DK","DK","Recovering business confidence leads to a risk rating upgrade.","N","200716","DB2a","+","+","Y","200710","A","1","45"
"Dominican Republic","The Americas","214","DO","DR","The government pushes ahead with easing the lockdown, despite the continued threat of the virus.","N","200716","DB4b","0","-","Y","200410","A","1","9916"
"Ecuador","The Americas","218","EC","EC","Coronavirus is still hitting the economy and putting the government under pressure.","N","200709","DB6d","0","-","Y","151211","A","1","593"
"Egypt","Middle East","818","EG","EG","Military tensions rise on the Libyan front.","N","200702","DB6a","0","0","Y","200327","A","1","20"
"El Salvador","The Americas","222","SV","EL","The economy records its weakest expansion rate in four years as spiking coronavirus cases force a temporary pause to economic reopening.","N","200730","DB5b","0","-","Y","200410","A","1","503"
"Estonia","Eastern Europe","233","EE","EO","The economy contracts sharply as domestic and trade activity both dive.","N","200625","DB3b","0","-","Y","200417","A","1","7014"
"Ethiopia","Africa","231","ET","ET","Consumer price inflation surges as the economy struggles.","N","200716","DB5d","0","-","Y","200410","A","1","251"
"Fiji","Asia Pacific","242","FJ","FJ","Restrictions on international travel devastate the local tourist industry, leading to a humanitarian crisis in the Western Division.","N","200730","DB5c","0","-","Y","200424","A","1","679"
"Finland","Western Europe","246","FI","SF","The outlook stabilises and a cautious upturn beckons, but substantial risks remain.","N","200723","DB2d","0","0","Y","200522","A","1","358"
"France","Western Europe","250","FR","FR","We expect GDP to contract by 8.2% in 2020, followed by growth of 5.0% in 2021, but downside risks remain severe.","N","200723","DB2c","0","0","Y","200327","A","1","33"
"Gabon","Africa","266","GA","GA","Dun & Bradstreet downgrades its rating outlook for Gabon amid the coronavirus pandemic and a drop in oil prices.","N","200430","DB5d","0","-","Y","150309","A","1","241"
"Georgia","Eastern Europe","268","GE","GE","Dun & Bradstreet downgrades Georgia's country risk rating due to the coronavirus pandemic.","N","200423","DB5d","0","-","Y","200417","A","1","7883"
"Germany","Western Europe","276","DE","DE","The outlook stabilises as an economic uptick emerges.","N","200709","DB2b","0","0","Y","200327","A","1","49"
"Ghana","Africa","288","GH","GH","Coronavirus will impact trade and GDP significantly in 2020.","N","200529","DB6a","-","-","Y","140707","A","1","205"
"Greece","Western Europe","300","GR","GR","Tourism data has been disappointing since the partial lifting of travel restrictions.","N","200723","DB4d","0","-","Y","200320","A","1","30"
"Guatemala","The Americas","320","GT","GT","Dun & Bradstreet downgrades Guatemala's country risk rating amid the impact from Covid-19.","N","200514","DB5d","0","-","Y","200508","A","1","502"
"Honduras","The Americas","340","HN","HO","Dun & Bradstreet downgrades Honduras’ country risk rating due to the socioeconomic impact of the coronavirus pandemic.","N","200521","DB5d","0","-","Y","200515","A","1","504"
"Hong Kong (S.A.R.)","Asia Pacific","344","HK","HK","Monthly data indicates a sharp downturn in the economy.","N","200702","DB3d","0","0","Y","200403","A","1","852"
"Hungary","Eastern Europe","348","HU","HU","Government grants and interest rate cuts position the economy well for Q3, prompting a ratings upgrade.","N","200723","DB4c","+","+","Y","200717","A","1","36"
"Iceland","Western Europe","352","IS","IC","Dun & Bradstreet downgrades Iceland's country risk rating as a result of the coronavirus pandemic.","N","200430","DB3b","0","-","Y","200424","A","1","354"
"India","Asia Pacific","356","IN","IN","Rising Covid-19 cases cast doubt on a quick recovery as lockdowns ease.","N","200702","DB5c","0","-","Y","200327","A","1","91"
"Indonesia","Asia Pacific","360","ID","ID","The economy will contract in 2020 after Q2's coronavirus shock.","N","200604","DB4a","0","-","Y","141209","A","1","62"
"Iran","Middle East","364","IR","IA","Official data confirms that the economy is contracting sharply.","N","200716","DB6c","0","-","Y","190118","A","1","98"
"Iraq","Middle East","368","IQ","IQ","Dun & Bradstreet downgrades its rating outlook for Iraq due to the crash in oil prices.","N","200430","DB7","-","-","Y","140618","A","1","964"
"Ireland","Western Europe","372","IE","IR","The rating outlook improves to 'stable' as the economy shows signs of recovering.","N","200702","DB3b","0","0","Y","200327","A","1","353"
"Israel","Middle East","376","IL","IS","Tensions build as the government decides on an annexation plan.","N","200702","DB3d","0","-","N","200327","A","1","972"
"Italy","Western Europe","380","IT","IT","The rating outlook deteriorates as the economy struggles despite the lifting of lockdown.","N","200702","DB4d","0","-","Y","200529","A","1","39"
"Jamaica","The Americas","388","JM","JM","Damage to the government finances from stimulus spending triggers a risk-rating downgrade.","N","200625","DB5b","0","-","Y","200619","A","1","9918"
"Japan","Asia Pacific","392","JP","JA","The growth outlook worsens as Q2 data shows the scale of the shock to non-IT manufacturing industries.","N","200730","DB2d","0","-","Y","200320","A","1","81"
"Jordan","Middle East","400","JO","JO","Dun & Bradstreet downgrades Jordan’s country risk rating as policies to mitigate coronavirus push the economy into contraction.","N","200423","DB6b","0","-","Y","200417","A","1","962"
"Kazakhstan","Eastern Europe","398","KZ","KZ","Slumping demand will prompt a GDP contraction in 2020.","N","200709","DB5a","0","-","Y","180810","A","1","7327"
"Kenya","Africa","404","KE","KE","The economy will contract in 2020.","N","200604","DB5a","0","-","Y","200327","A","1","254"
"Korea (South)","Asia Pacific","410","KR","KR","Data for Q2 suggests that the economy will shrink less in 2020 than was previously forecast.","N","200709","DB3c","0","-","Y","200306","A","1","82"
"Kuwait","Middle East","414","KW","KU","Political infighting between parliament and government flares up as lockdown eases.","N","200702","DB4a","0","-","Y","200501","A","1","965"
"Kyrgyz Republic","Eastern Europe","417","KG","XZ","The authorities move to end the state of emergency.","N","200529","DB6d","-","-","N","070319","A","1","7361"
"Latvia","Eastern Europe","428","LV","LV","The economic impact of Covid-19 exceeds initial estimates.","N","200604","DB3c","0","-","Y","200327","A","1","7132"
"Lebanon","Middle East","422","LB","LE","The currency goes into freefall, prompting an outlook downgrade.","N","200618","DB6d","0","-","Y","200410","A","1","961"
"Libya","Africa","434","LY","LI","Dun & Bradstreet upgrades its rating outlook for Libya as an end to the country's conflict becomes more likely.","N","200529","DB7","-","-","Y","140321","A","1","218"
"Lithuania","Eastern Europe","440","LT","LT","Economic life resumes in June as almost all restrictions are lifted.","N","200618","DB3d","0","-","Y","200424","A","1","7012"
"Luxembourg","Western Europe","442","LU","LX","Parts of the economy are beginning to recover.","N","200716","DB2c","0","0","Y","200311","A","1","352"
"Macedonia (FYR)","Eastern Europe","807","MK","YR","Dun & Bradstreet downgrades North Macedonia’s country risk rating as the coronavirus outbreak hits the economy.","N","200423","DB5d","0","-","Y","200417","A","1","3801"
"Malawi","Africa","454","MW","MW","Dun & Bradstreet downgrades Malawi's country risk rating due to the impact of Covid-19. ","N","200529","DB6c","0","-","Y","200522","A","1","265"
"Malaysia","Asia Pacific","458","MY","MS","The economic shock will outlast the lockdown that expired in July.","N","200716","DB4a","0","-","Y","200313","A","1","60"
"Malta","Western Europe","470","MT","MT","The cessation of coronavirus measures sees economic activity restart.","N","200618","DB3a","0","-","Y","200410","A","1","356"
"Mauritius","Africa","480","MU","MU","The outlook is bleak for the travel, tourism and hospitality sectors.","N","200709","DB3c","0","-","Y","200508","A","1","230"
"Mexico","The Americas","484","MX","MX","Still-high levels of Covid-19 add to the extensive uncertainty clouding the outlook.","N","200716","DB4b","0","-","Y","200515","A","1","52"
"Morocco","Africa","504","MA","MO","The central bank is more pessimistic about growth than we are.","N","200709","DB4a","+","-","Y","140826","A","1","212"
"Mozambique","Africa","508","MZ","MZ","Dun & Bradstreet downgrades Mozambique's country risk rating as the economy weakens.","N","200423","DB6b","0","-","Y","200417","A","1","258"
"Myanmar","Asia Pacific","104","MM","BM","Slumping demand in key export markets restrains growth prospects.","N","200611","DB6a","+","0","Y","120606","A","1","95"
"Namibia","Africa","516","NA","NM","Dun & Bradstreet downgrades Namibia's country risk rating due to the economy's forecast contraction.","N","200430","DB4c","0","-","Y","200424","A","1","264"
"Nepal","Asia Pacific","524","NP","NE","Dun & Bradstreet downgrades Nepal's country risk rating due to the coronavirus pandemic.","N","200529","DB6c","0","-","Y","200522","A","1","977"
"Netherlands","Western Europe","528","NL","NL","The economy will worsen in Q2 given historic declines in consumption, investment and exports.","N","200702","DB2d","0","0","Y","200327","A","1","31"
"New Zealand","Asia Pacific","554","NZ","NZ","Macroeconomic data rebounds - resulting in a rating outlook upgrade - but risks remain.","N","200723","DB2c","0","0","Y","200320","A","1","64"
"Nicaragua","The Americas","558","NI","NR","The government's insistence that there is no national transmission of coronavirus risks a humanitarian crisis.","N","200430","DB6d","0","-","N","180817","A","1","505"
"Nigeria","Africa","566","NG","NI","FX reserves could be run down as the economy struggles.","N","200702","DB6d","0","-","Y","200501","A","1","234"
"Norway","Western Europe","578","NO","NO","The rating outlook improves, lifted by rebounding oil prices and resilient domestic demand. ","N","200709","DB2a","0","0","Y","200508","A","1","47"
"Oman","Middle East","512","OM","OM","Oman's foreign policy independence is threatened as it is forced to seek financial support from Gulf countries.","N","200730","DB5a","0","-","Y","200424","A","1","968"
"Pakistan","Asia Pacific","586","PK","PA","Economic and political challenges persist despite the easing of anti-virus restrictions. ","N","200618","DB6b","0","-","Y","200410","A","1","92"
"Panama","The Americas","591","PA","PN","The economy re-opens as lockdown measures ease.","N","200611","DB3b","0","-","Y","190607","A","1","507"
"Papua New Guinea","Asia Pacific","598","PG","PP","Dun & Bradstreet downgrades Papua New Guinea's country risk rating due to the coronavirus pandemic.","N","200604","DB6a","0","-","Y","200529","A","1","675"
"Paraguay","The Americas","600","PY","PG","The economy is gradually reopening under a four-phase plan.","N","200618","DB5d","0","-","Y","190614","A","1","595"
"Peru","The Americas","604","PE","PR","A four-phase plan to re-open the economy is in motion.","N","200604","DB4b","0","-","Y","190531","A","1","51"
"Philippines","Asia Pacific","608","PH","PH","Government policy shifts from lockdown to reopening amid concerns over economic harm.","N","200625","DB4c","0","-","Y","200417","A","1","63"
"Poland","Eastern Europe","616","PL","PL","The efficiency of the anti-crisis support package and a sharp increase in retail sales both contribute to an outlook upgrade.","N","200723","DB3d","0","0","Y","200320","A","1","48"
"Portugal","Western Europe","620","PT","PO","The coronavirus epidemic is still not entirely under control. ","N","200702","DB4a","0","-","Y","200327","A","1","351"
"Qatar","Middle East","634","QA","QA","Qatar's order for 100+ new LNG carriers confirms its commitment to expand production.","N","200611","DB2d","0","-","Y","191213","A","1","974"
"Romania","Eastern Europe","642","RO","RO","The risk rating is upgraded as Romania emerges from the pandemic, but problems still remain.","N","200709","DB4c","+","+","Y","200703","A","1","40"
"Russian Federation","Eastern Europe","643","RU","RF","Coronavirus-driven supply and demand shocks will hit the economy hard.","N","200702","DB5d","0","-","Y","200327","A","1","7095"
"Saudi Arabia","Middle East","682","SA","SD","Payment performance in the private and public sectors alike will be undermined as the economy heads into recession.","N","200723","DB4a","0","-","Y","200417","A","1","966"
"Senegal","Africa","686","SN","SG","The risk rating worsens on the back of lower growth and heightened credit risks.","N","200618","DB4c","0","0","Y","200612","A","1","221"
"Serbia","Eastern Europe","891","RS","YU","The risk outlook improves as the country emerges from lockdown.","N","200625","DB5c","0","+","Y","200320","A","1","38"
"Sierra Leone","Africa","694","SL","SL","The economy will contract in 2020 amid the coronavirus pandemic.","N","200625","DB6c","0","-","Y","200320","A","1","232"
"Singapore","Asia Pacific","702","SG","SI","The incumbent government wins re-election, ensuring policy and leadership continuity.","N","200723","DB2d","0","-","Y","200214","A","1","65"
"Slovakia","Eastern Europe","703","SK","SK","Slovakia's risk rating improves as it emerges from the pandemic, but the threat of a second wave remains.","N","200709","DB3b","+","+","N","200703","A","1","4207"
"Slovenia","Eastern Europe","705","SI","SB","With most businesses reopening, we have upgraded Slovenia’s risk rating. ","N","200618","DB3c","0","+","Y","200612","A","1","3861"
"South Africa","Africa","710","ZA","SA","The economy will undergo a severe contraction in 2020.","N","200702","DB4d","0","-","Y","200327","A","1","27"
"Spain","Western Europe","724","ES","ES","We have upgraded Spain’s risk rating as the country emerges from its coronavirus crisis.","N","200709","DB4b","+","+","Y","200705","A","1","34"
"Sri Lanka","Asia Pacific","144","LK","SR","Public health measures have affected Covid-19 containment, but the economy will shrink.","N","200625","DB5b","0","-","Y","141105","A","1","94"
"Sudan","Africa","736","SD","SU","The economy will contract by as much as 8.0% in 2020, and will remain highly unstable.","N","200730","DB7","0","-","Y","190607","A","1","249"
"Sweden","Western Europe","752","SE","SW","Stronger manufacturing activity triggers a supply environment outlook upgrade.","N","200723","DB2c","0","0","Y","200417","A","1","46"
"Switzerland","Western Europe","756","CH","CH","The economy is on its way to recovery: in May, sales were up by 6.6% y/y and by 30.7% relative to April.","N","200730","DB2d","0","0","Y","200320","A","1","41"
"Syria","Middle East","760","SY","SY","The Syrian pound's sharp depreciation damages economic activity and fuels social discontent.","N","200618","DB7","0","-","Y","200313","A","1","963"
"Taiwan","Asia Pacific","158","TW","CT","Technology exports and an almost virus-free island avert a sharp recession.","N","200625","DB2d","0","0","Y","151127","A","1","886"
"Tajikistan","Eastern Europe","762","TJ","TJ","Growth is set to fall drastically.","N","200529","DB6d","-","-","Y","080519","A","1","73772"
"Tanzania","Africa","834","TZ","TA","The tourism sector contracts sharply as international arrivals slump.","N","200611","DB4d","0","-","Y","200403","A","1","255"
"Thailand","Asia Pacific","764","TH","TH","The economy is in its deepest recession since 1998.","N","200716","DB5a","0","-","Y","200515","A","1","66"
"Trinidad & Tobago","The Americas","780","TT","TT","Low energy prices underpin a steep recession in 2020.","N","200625","DB4c","0","-","Y","161125","A","1","9923"
"Tunisia","Africa","788","TN","TU","Political tensions culminate in the prime minister's resignation, prompting an outlook downgrade.","N","200730","DB6b","0","-","Y","200403","A","1","216"
"Turkey","Western Europe","792","TR","TK","FX risk remains extreme.","N","200702","DB5c","0","-","Y","200327","A","1","90"
"Turkmenistan","Eastern Europe","795","TM","TM","Dun & Bradstreet downgrades Turkmenistan's country risk rating as the coronavirus pandemic makes its presence felt.","N","200604","DB6c","0","-","Y","200529","A","1","73632"
"Uganda","Africa","800","UG","UG","Negative developments for travel, trade, and investment trigger a rating downgrade. ","N","200618","DB5c","0","-","Y","200612","A","1","256"
"Ukraine","Eastern Europe","804","UA","UI","The economy is forecast to contract by 4.7% in 2020. ","N","200604","DB6c","-","0","Y","140310","A","1","7044"
"United Arab Emirates","Middle East","784","AE","UA","Dubai's economy contracted sharply in Q1. ","N","200709","DB3c","0","-","Y","200403","A","1","971"
"United Kingdom","Western Europe","826","GB","UK","We have downgraded our growth forecast for the UK: we now expect the economy to contract by 9.8% this year.","N","200723","DB3b","0","-","Y","200324","A","1","44"
"United States of America","The Americas","840","US","US","The uptick in Covid-19 cases creates a significant risk to the recovery.","N","200709","DB2c","0","0","Y","200327","A","1","0"
"Uruguay","The Americas","858","UY","UR","The country's risk rating is upgraded given the excellent public health response to the coronavirus pandemic.","N","200730","DB4c","+","0","Y","200724","A","1","598"
"Uzbekistan","Eastern Europe","860","UZ","UZ","Dun & Bradstreet downgrades Uzbekistan's country risk rating due to the Covid-19 crisis.","N","200604","DB6c","0","-","Y","200529","A","1","7371"
"Venezuela","The Americas","862","VE","VE","EU sanctions against government officials intensify foreign pressures to remove President Maduro.","N","200709","DB6d","0","-","Y","131111","A","1","58"
"Vietnam","Asia Pacific","704","VN","VI","The economy looks set to outperform other countries in the region.","N","200618","DB4d","0","0","Y","190614","A","1","9926"
"Yemen","Middle East","887","YE","YE","Civil war and coronavirus put the outlook under continued strain.","N","200625","DB7","0","-","Y","141105","A","1","967"
"Zambia","Africa","894","ZM","ZA","Dun & Bradstreet downgrades Zambia's country risk rating as the economy contracts amid Covid-19.","N","200529","DB5d","0","-","Y","200522","A","1","260"
"Zimbabwe","Africa","716","ZW","ZI","The country faces a second consecutive year of deep recession.","N","200625","DB7","-","0","N","010323","A","1","263"