Country Ratings: Asia

Country Ratings: Asia

Up-to-the-minute, worldwide country risk analyses are produced by the internal Country Risk Unit of the Euler Hermes Group. These country specialists monitor political and economic developments across the globe on an ongoing basis. You can read their reports here at any time and with up-to-date assessments.

Here you can find up-to-the-minute information on countries in Asia. You can download PDF files on the countries concerned.

Please consider the notes at the end of this page.

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Euler Hermes Country Ratings (PDF)

Euler Hermes World Risk Map

Afghanistan

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.



Bahrain

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M3
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 25 April 2012

Bangladesh

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 27 August 2010

Bhutan

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Country Review dated 10 September 2010

Brunei

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.


Brief information dated 10 February 2010

Country Review dated 25 January 2010

Cambodia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 26 August 2009

Country Review dated 20 August 2009

China

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 18 April 2012

Country Review dated 23 August 2011

Hong Kong

as per 3/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 29 March 2012

Country Review dated 8 November 2010

India

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M1
Significant vulnerability risk. Low cyclical risk.


Brief information dated 18 April 2012


Indonesia

as per 2/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L1
Low vulnerability risk. Low cyclical risk.


Brief information dated 8 February 2012

Country Review dated 8 November 2010

Iran

as per 1/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 12 January 2012

Iraq

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 7 April 2010

Country Review dated 8 April 2010

Israel

as per 8/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L1
Low vulnerability risk. Low cyclical risk.


Brief information dated 24 August 2011

Country Review dated 28 May 2010

Japan

as per 2/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: AA
Very low external transfer & convertibility risk and very strong business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M2
Significant vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 15 February 2012

Jordan

as per 10/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.


Brief information dated 19 October 2011

Kazakhstan

as per 2/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 29 February 2012

Country Review dated 16 May 2011

Korea, Democratic People Republic

as per 12/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 21 December 2011

Country Review dated 12 October 2010

Korea, Republic

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 18 April 2012

Country Review dated 1 April 2010

Kuwait

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 25 April 2012


Kyrgyzstan

as per 7/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 14 April 2010

Country Review dated 7 July 2011

Laos

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 16 September 2009

Country Review dated 19 August 2009

Lebanon

as per 7/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 6 July 2011

Country Review dated 26 October 2009

Macao (RC)

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.


Brief information dated 28 October 2009

Country Review dated 15 October 2009

Malaysia

as per 3/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 21 March 2012

Country Review dated 20 January 2010

Maldives

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 28 June 2010

Mongolia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 6 April 2011


Myanmar

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.



Nepal

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 23 September 2009

Country Review dated 8 April 2010

Oman

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L1
Low vulnerability risk. Low cyclical risk.


Brief information dated 30 September 2009

Pakistan

as per 11/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 2 November 2011

Country Review dated 19 March 2010

Philippines

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 25 April 2012

Country Review dated 7 September 2010

Qatar

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 25 November 2009

Saudi Arabia

as per 10/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L1
Low vulnerability risk. Low cyclical risk.


Brief information dated 12 October 2011

Singapore

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: AA
Very low external transfer & convertibility risk and very strong business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 18 April 2012

Country Review dated 1 June 2010

Sri Lanka

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 15 September 2010

Country Review dated 15 November 2010

Syria

as per 12/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 7 December 2011

Taiwan

as per 2/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 1 February 2012

Country Review dated 28 October 2010

Tajikistan

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.



Thailand

as per 2/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L2
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 29 February 2012

Country Review dated 21 June 2010

Timor-Leste

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 2 November 2009

Turkmenistan

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 19 October 2009

United Arab Emirates

as per 9/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L1
Low vulnerability risk. Low cyclical risk.


Brief information dated 17 November 2010

Uzbekistan

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 8 February 2010

Vietnam

as per 4/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 4 April 2012

Country Review dated 14 July 2011

Yemen

as per 2/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 22 February 2012

Country Review dated 4 June 2010

This document reflects the opinion of the Economic Research Department of Euler Hermes. The information, analyses and forecasts contained herein are based on the Department's current hypotheses and viewpoints and are of a prospective nature. In this regard, the Economic Research Department of Euler Hermes has no responsibility for the consequences hereof and no liability. Moreover, these analyses are subject to modification at any time.

The country rating is an evaluation of the risk of payment default for short-term business in a specific country due to political and/or economic factors. Country ratings are subject to modification. The ratings always refer to the date given in connection with the country concerned.

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