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2009 Country Credit Ratings
Overview | Global Credit Rankings | Regions Report | Increase_Decrease | Sovereign Credit- Financial | Sovereign Credit- Economic | Sovereign Credit- Political | Methodology | View Article | 2008 Results |


Overview

September’s Country Credit Ratings Recover

The global economy has been hit by the worst recession since World War II, but early signs of recovering are starting to appear.

Sovereign creditworthiness has rebounded modestly in the past six months, according to Institutional Investor¹s exclusive Country Credit survey.

Although most ratings remain well below the levels of a year ago, the latest figures reflect a belief that the global economy "has bottomed out - things can only get better," says Sherman Hui, a risk analyst at Canadian Imperial Bank of Commerce in Toronto.

The improvement is likely to be uneven, though. Countries in Asia and Latin America, which many economists expect to lead a global recovery, have seen some of the biggest increases among all countries in their credit ratings in the latest six months. The U.S. also enjoys a modest bounce, suggesting that many analysts believe that the country that dragged the world into recession will help pull everyone out of it. By contrast, the ratings of most European countries have taken a further tumble.

The average credit rating of all 178 countries included in the survey rises to 45.7 on a scale of zero to 100. That's up 0.7 point from the previous survey, in March, but down 1.3 points from the peak level achieved in September 2008. 

More-detailed coverage of the 2009 Country Credit can be found in the September issue of Institutional Investor. To start your subscription, click here.

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