coface+carte+gb-v2-bd
TRANSCRIPT
BRAZIL
UNITED STATES
CANADA
MEXICO
ALGERIA
RUSSIA
KAZAKHSTAN
CHINA
AUSTRALIA
SAUDIARABIA INDIA
ARGENTINA
PERU
BOLIVIA
VENEZUELA
MONGOLIA
TURKEY
LIBYA
ICELAND
EGYPT
JAPAN
SUDAN
PAKISTAN
OMAN
YEMEN
MADAGASCAR
INDONESIA
PHILIPPINES
ECUADOR
NIGER
CENTRAL AFRICAN REPUBLIC
KENYA
ETHIOPIA
ZAIRE(DRC)
TANZANIA
SOUTH AFRICA
LESOTHO
ANGOLA
MOROCCO
MAURITANIA
NAMIBIA
ZAMBIA
MOZAMBIQUE
GABON
IRAK
SRI LANKA
BANGLADESH
MYANMAR
VIETNAM
PAPUA NEW GUINEA
TIMOR-LESTE
NEW ZEALAND
SOUTH KOREA
CAMBODIA
LAOS
MALAYSIA
IRAN
NIGERIA
CHAD
MALI
TUNISIAISRAEL
JORDAN
SYRIA
LEBANON
DJIBOUTI
KUWAIT
TAIWAN
COLOMBIA
COSTA-RICA
FRENCHGUIANA
PANAMA
DOMINICANREPUBLIC
HAITI
CUBA
GUATEMALA
EL SALVADOR
NICARAGUA
HONDURAS
JAMAICA
FRENCHANTILLES
GUINEA
IVORY COAST
SIERRA LEONE
LIBERIA GHANA TOGO
SAO TOME& PRINCIPE
GUIANA
SURINAM
RWANDA
BURUNDI
CYPRUS
BAHRAINQATAR
UNITEDARABEMIRATES
FRENCHPOYNESIA
TRINIDAD & TOBACCO
PALESTINE
MALDIVES
HONG KONG
SINGAPORE
MAURITIUS
ILE DE LA RÉUNION
CAP VERT
GROENLAND(DENMARK)
ERITREA
CAMEROON
UGANDA
BENIN
BURKINAFASO
CONGO
MALAWI
ZIMBABWE
SENEGAL
BOTSWANA
NEPAL
UZBEKISTAN
KYRGYZSTAN
TAJIKISTANTURKMENISTAN
GEORGIA
ARMENIA AZERBAIJAN
THAILAND
PARAGUAY
CHILE
URUGUAY
AFGHANISTAN
160 COUNTRIES UNDER THE MAGNIFYING GLASS
COUNTRY RISK ASSESSMENT MAP • 2ND QUARTER 2015
RISK OF BUSINESSES DEFAULTING A1 A2 A3 A4 B C DVERY LOW LOW QUITE ACCEPTABLE ACCEPTABLE SIGNIFICANT HIGH VERY HIGH
A UNIQUE METHODOLOGY• Macroeconomic expertise in assessing country risk
• Comprehension of the business environment
• Microeconomic data collected over 70 years of payment experience
CHINA
The level of the private sector debt has been increasing: 207 % of GDP in early 2014 compared to 130% of GDP in 2008 and non-performing loans are on the rise. Solvency of the most fragile players needs to be watched, especially within industries experiencing overcapacities (cement or steel sectors) and real estate market (real estate investment is slowing and property prices are declining).
DOWNGRADE
PORTUGAL
After Portugal’s exit from the bailout plan, the country sees an improvement in its fiscal position and a rebalancing of its external accounts. Growth should reach 1.5 % in 2015 and 2016. On the business side: higher margins, decline in bankruptcies and satisfactory payment experience.
CZECH REPUBLICThe country is benefiting from the economy recovery in Western Europe. The growth should reach a comfortable level (2.5 % in 2015 and 2.8% in 2016).
VIETNAM
Improvement in the economicperformance (6% growth in GDP in 2014) and an acceleration in private consumption, thanks to low inflation. The external risk has reduced the current account surplus and the exchange reserves progress.
UPGRADES
B
A4 A3 B A4TURKEY
GERMANY
FRANCE
ITALY
SPAIN
UNITED KINGDOM
FINLAND
SWEDEN
DENMARK
PORTUGAL
ICELAND
IRELAND
RUSSIA
LITHUANIA
LATVIA
ROMANIA
POLAND
UKRAINE
BULGARIA
HUNGARY
SLOVAKIA
CZECHREPUBLIC
GREECE
KOSOVO
ALBANIA
MONTENEGRO
BOSNIA
CROATIA
SERBIA
NETHERLANDS
LUXEMBOURG
ESTONIA
BELARUS
MALTA
CYPRUS
MOLDOVA
BELGIUM
NORWAY
SLOVENIA
MACEDONIA
SWITZERLANDAUSTRIA
A4
A4
A3