Country Ratings: Europe
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 Europe. You can download PDF files on the countries concerned.
N.B.: 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.
Belarus
Bosnia and Herzegovina
Bulgaria
Croatia
Cyprus
Czech Republic
Estonia
France
Germany
Greece
Albania
as per 4/2009
Andorra
as per 4/2009
Armenia
as per 10/2009
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Detailed information dated 22 October 2009
Austria
as per 4/2009
Azerbaijan
as per 4/2009
Belarus
as per 6/2010
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Brief information dated 24 June 2010
Belgium
as per 4/2009
Bosnia and Herzegovina
as per 3/2010
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Brief information dated 3 March 2010
Detailed information dated 18 February 2010
Bulgaria
as per 6/2010
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 16 June 2010
Detailed information dated 12 October 2009
Croatia
as per 7/2010
Euler Hermes Rating: B
A range of structural and policy weaknesses and/or vulnerable external liquidity position, some weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and limited capacity to respond to economic crisis.
Brief information dated 21 July 2010
Cyprus
as per 6/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 21 April 2010
Czech Republic
as per 6/2010
Euler Hermes Rating: BB
Some signs of structural and policy weaknesses. External liquidity adequate, some weaknesses in business environment and/or significant, though moderate, risk of political instability and adequate capacity to respond to economic crisis.
Brief information dated 2 June 2010
Denmark
as per 4/2009
Estonia
as per 6/2010
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 9 June 2010
Detailed information dated 7 July 2009
Faroe Island (DK)
as per 4/2009
Finland
as per 4/2009
France
as per 7/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 8 July 2010
Georgia
as per 4/2009
Germany
as per 7/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 15 July 2010
Gibraltar (UK)
as per 4/2009
Greece
as per 7/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 21 July 2010
Greenland (DK)
as per 4/2009
Guernsey (UK)
as per 4/2009
Hungary
as per 7/2010
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 21 July 2010
Detailed information dated 21 August 2009
Iceland
as per 10/2009
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Detailed information dated 26 October 2009
Isle Of Man (UK)
as per 4/2009
Ireland
as per 4/2009
Italy
as per 4/2009
Jersey (UK)
as per 4/2009
Latvia
as per 3/2010
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Brief information dated 24 March 2010
Liechtenstein
as per 4/2009
Lithuania
as per 8/2009
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 17 June 2009
Detailed information dated 5 August 2009
Luxembourg
as per 4/2009
Macedonia
as per 4/2009
Malta
as per 6/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Detailed information dated 11 June 2010
Moldova
as per 4/2009
Monaco
as per 4/2009
Montenegro
as per 1/2010
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Brief information dated 27 January 2010
Netherlands
as per 4/2009
Norway
as per 4/2009
Poland
as per 7/2010
Euler Hermes Rating: B
A range of structural and policy weaknesses and/or vulnerable external liquidity position, some weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and limited capacity to respond to economic crisis.
Brief information dated 28 July 2010
Portugal
as per 4/2009
Romania
as per 6/2010
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 30 June 2010
Detailed information dated 12 February 2010
Russia
as per 6/2010
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 24 June 2010
Detailed information dated 10 June 2010
San Marino
as per 4/2009
Serbia
as per 7/2010
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Brief information dated 15 July 2010
Slovakia
as per 6/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 16 June 2010
Slovenia
as per 6/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 30 June 2010
Spain
as per 4/2009
Svalbard (N)
as per 4/2009
Sweden
as per 4/2009
Switzerland
as per 4/2009
Turkey
as per 7/2010
Euler Hermes Rating: C
Deep structural weaknesses and/or strong policy measures required and/or external liquidity risk is high, serious weaknesses in business environment and/or serious weaknesses in political framework with higher risk of political instability and little capacity to respond to economic crisis.
Brief information dated 8 July 2010
Detailed information dated 21 April 2010
Ukraine
as per 7/2010
Euler Hermes Rating: D
Structurally very weak and policy ineffective and/or current/imminent external liquidity crisis, serious weakness in business environment and/or actual or very high risk of political instability. No capacity to respond to economic crisis.
Brief information dated 8 July 2010
United Kingdom
as per 6/2010
Euler Hermes Rating: AA
Strong economic structure and policy framework (industrialised economy or similar). Negligible risk of external liquidity crisis. Generally sound business environment. Negligible risk of political instability. Strong capacity to respond to economic crisis.
Brief information dated 24 June 2010
Vatican City
as per 4/2009
Deutsch
Euler Hermes Group
