Research Article

Sovereign Credit Risk Assessment with Multiple Criteria Using an Outranking Method

Table 3

Initial allocation for the alternatives based on their ratings.

CountryS&PMoody’sCl

AustraliaAAAAaaC1

Czech RepublicAA-A1C1

Korea, Rep.A+Aa3C1

CanadaAAAAaaC1

United KingdomAAAAa1C1

EstoniaAA-A1C1

ChileAA-Aa3C1

IsraelA+A1C1

KuwaitAAAa2C1

QatarAAAa2C1

SingaporeAAAAaaC1

BrazilBBB-Baa2C2

ColombiaBBBBaa2C2

ItalyBBB-Baa2C2

MexicoBBB+A3C2

RomaniaBBB-Baa3C2

UruguayBBBBaa2C2

AzerbaijanBBB-Baa3C2

Bahamas, TheBBBC2

IndonesiaBaa3C2

IndiaBBB-Baa3C2

PhilippinesBBBBaa2C2

Russian FederationBBB-Baa3C2

ThailandBBB+Baa1C2

South AfricaBBB-Baa2C2

UkraineCCC-Caa3C3

JamaicaB-Caa3C3

MontenegroB+Ba3C3

HungaryBBC3

GuatemalaBBBa1C3

Costa RicaBBC3

ArgentinaCCaa1C3

AlbaniaBB1C3

BangladeshBB-Ba3C3

BulgariaBB+Baa2C3

Bosnia and HerzegovinaBB3C3

BelarusB-B3C3

BoliviaBBC3

GeorgiaBB-Ba3C3

KenyaB1C3

MoldovaB3C3

Macedonia, FYRBB-C3

NicaraguaB3C3

Egypt, Arab Rep.B-Caa1C3

Congo, Dem. Rep.B-B3C3