Fundamentals Strong But Sentiment Still Shaky: Sovereign Risk Ratings Assessed

Our last Sovereign Risk Ratings (SRR) update came against a turbulent moment in Middle Eastern debt markets: we went to print on December 7 2009, two weeks after Dubai World (DW) asked for a standstill on its liabilities, causing CDS spreads to spike and debt markets to crash. Three months on, the picture is somewhat calmer, if not much clearer. In general, the Middle East remains one of the most creditworthy regions, in the sovereign sense, in the world.

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