SOVEREIGN AND SUPRANATIONAL ISSUER RATINGS SUMMARY

August 5, 2011

Country Ceilings & Government Bond Ratings

COUNTRY CEILINGS FOREIGN CURRENCY Country Albania Alderney (Channel Islands) Andorra [1] Angola Argentina Armenia Australia Austria [1] Azerbaijan Bahamas Bahamas-Offshore Banks Bahrain Bahrain-Offshore Banks [2] Bangladesh Barbados Belarus Belgium [1] Belize Bermuda Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Cambodia Bonds Ba1 / STA Aaa / STA Aaa / STA Ba1 / STA B2 / STA Baa3 / STA Aaa / STA Aaa / STA Baa2 / POS Aa1 / STA Aaa / STA A2 / NEG A1 / NEG Ba2 / STA Baa1 / NEG B3 / RURAaa / STA B1 / STA Aaa / STA Ba3 / POS Ba3 / NEG Aa3 / STA Baa1 / POS Aa3 / STA B1 / STA Bank Deposits B2 / STA Aaa / STA Aaa / STA B1 / STA Caa1 / STA Ba3 / STA Aaa / STA Aaa / STA Ba2 / POS A3 / STA Aaa / STA Baa1 / NEG A1 / NEG B1 / STA Baa3 / NEG Caa1 / RURAaa / STA B3 / STA Aa2 / STA B2 / POS B3 / NEG A2 / NEG Baa2 / POS Baa2 / STA B3 / STA LOCAL CURRENCY Bonds A3 Aaa Aaa Baa3 Ba1 A3 Aaa Aaa A3 Aaa A1 Baa3 A1 Ba3 Aaa A1 Aaa Ba1 Ba1 Aa3 A1 Aa3 Ba1 Deposits Baa1 Aaa Baa3 Ba1 Baa1 Aaa Aaa Baa1 Aaa A1 Baa3 A1 Ba3 Aaa A3 Aa1 Ba1 Ba3 Aa3 A1 Baa2 Ba1 Government Bond Ratings FOREIGN CURRENCY B1 / STA Ba3 / STA B3 / STA Ba2 / STA Aaa / STA Aaa / STA Ba1 / POS A3 / STA Baa1 / NEG Ba3 / STA Baa3 / NEG B3 / RURAa1 / STA B3 / STA Aa2 / STA B1 / POS B2 / NEG A2 / NEG Baa2 / POS Baa2 / STA B2 / STA LOCAL CURRENCY B1 / STA Ba3 / STA B3 / STA Ba2 / STA Aaa / STA Aaa / STA Ba1 / POS A3 / STA Baa1 / NEG Ba3 / STA Baa3 / NEG B3 / RURAa1 / STA B3 / STA Aa2 / STA B1 / POS B2 / NEG A2 / NEG Baa2 / POS Baa2 / STA B2 / STA

Canada Cayman Islands Cayman Islands-Offshore Banks Chile China Colombia Costa Rica Croatia Cuba Cyprus [1] Czech Republic Denmark Dominican Republic Ecuador Egypt El Salvador Estonia [1] Eurozone [1] Fiji Islands Finland [1] France [1] Georgia Germany [1] Greece [1] Guatemala Guernsey (Channel Islands) Honduras Hong Kong Hungary Iceland India Indonesia Ireland [1]

Aaa / STA Aaa / STA Aaa / STA Aa1 / STA Aa3 / POS Baa2 / STA Baa2 / STA A1 / STA Caa1 / STA Aaa / STA Aa1 / STA Aaa / STA Ba2 / STA B3 / STA Ba1 / NEG Baa3 / STA Aaa / STA Aaa / STA Ba3 / NEG Aaa / STA Aaa / STA Ba1 / STA Aaa / STA Aaa / STA Baa3 / STA Aaa / STA Ba3 / STA Aaa / STA A1 / NEG Baa2 / NEG Baa2 / STA Baa3 / STA Aaa / STA

Aaa / STA Aa3 / STA Aaa / STA Aa3 / STA Aa3 / POS Baa3 / STA Ba1 / STA Ba1 / STA Caa2 / STA Aaa / STA A1 / STA Aaa / STA B2 / STA Caa3 / STA B1 / NEG Baa3 / STA Aaa / STA Aaa / STA B2 / NEG Aaa / STA Aaa / STA B1 / STA Aaa / STA Aaa / STA Ba2 / STA Aaa / STA B3 / STA Aa1 / POS Baa3 / NEG Baa3 / NEG Ba1 / STA Ba2 / STA Aaa / STA

Aaa Aaa Aaa Aaa Aa3 A1 Aa2 Aa1 Ba3 Aaa Aaa Aaa A1 Baa3 Baa3 Aaa Aaa Baa1 Aaa Aaa Baa3 Aaa Aaa A3 Aaa A3 Aaa Aa3 Aa3 Aa3 Baa1 Aaa

Aaa Aa1 Aaa Aa3 A1 Aa3 A1 Aaa Aaa Aaa A1 Baa3 Baa3 Aaa Aaa Baa1 Aaa Aaa Baa3 Aaa Aaa A3 A3 Aaa Aa3 A1 A1 Baa1 Aaa

Aaa / STA Aa3 / STA Aa3 / STA Aa3 / POS Baa3 / STA Baa3 / STA Baa3 / STA Caa1 / STA Baa1 / NEG A1 / STA Aaa / STA B1 / STA Caa2 / STA Ba3 / NEG Ba2 / STA A1 / STA B1 / NEG Aaa / STA Aaa / STA Ba3 / STA Aaa / STA Ca / DVLPG Ba1 / STA B2 / STA Aa1 / POS Baa3 / NEG Baa3 / NEG Baa3 / STA Ba1 / STA Ba1 / NEG

Aaa / STA Aa3 / STA Aa3 / POS Baa3 / STA Baa3 / STA Baa3 / STA Baa1 / NEG A1 / STA Aaa / STA B1 / STA Ba3 / NEG A1 / STA B1 / NEG Aaa / STA Aaa / STA Ba3 / STA Aaa / STA Ca / DVLPG Ba1 / STA B2 / STA Aa1 / POS Baa3 / NEG Baa3 / NEG Ba1 / POS Ba1 / STA Ba1 / NEG

Isle of Man Israel Italy [1] Jamaica Japan Jersey (Channel Islands) Jordan Kazakhstan Korea Kuwait Latvia Lebanon Liechtenstein Lithuania Luxembourg [1] Macao Malaysia Malta [1] Mauritius Mexico Moldova Monaco [1] Mongolia Montenegro Morocco Netherlands [1] New Zealand Nicaragua Norway Oman Pakistan Panama Panama-Offshore Banks

Aaa / STA Aa1 / STA Aaa / STA Ba3 / STA Aaa / STA Aaa / STA Baa3 / NEG Baa2 / STA Aa2 / STA Aa2 / STA Aa3 / POS Ba3 / STA Aaa / STA Aa2 / STA Aaa / STA Aa1 / STA A3 / STA Aaa / STA Baa1 / STA A1 / STA B2 / STA Aaa / STA Ba2 / STA Baa1 / STA Baa2 / STA Aaa / STA Aaa / STA B2 / STA Aaa / STA Aa2 / STA B1 / STA A2 / STA Aa2 / STA

Aaa / STA A1 / STA Aaa / STA B3 / STA Aaa / STA Aaa / STA Ba3 / NEG Ba1 / STA A1 / STA Aa2 / STA Baa3 / POS B1 / STA Aaa / STA Baa1 / STA Aaa / STA Aa3 / STA A3 / STA Aaa / STA Baa2 / STA Baa1 / STA Caa1 / STA Aaa / STA B2 / STA B1 / STA Ba2 / STA Aaa / STA Aaa / STA Caa1 / STA Aaa / STA A1 / STA B3 / STA Baa1 / POS Aa2 / STA

Aaa Aa1 Aaa Baa2 Aaa Aaa Baa1 A3 Aa1 Aa2 Aaa Ba1 Aaa Aa1 Aaa Aaa Aa2 Aaa Aa2 Aaa Ba2 Aaa Baa1 A3 Aaa Aaa Ba2 Aaa Aa2 Baa2 A2 -

Aa2 Aaa Baa2 Aaa Baa1 A3 Aa1 Aa2 Aa1 Ba1 Aa1 Aaa Aaa Aa2 Aaa Aa2 Aaa Ba2 Baa2 A3 Aaa Aaa Ba3 Aaa Aa2 Ba2 Baa1 -

Aaa / STA A1 / STA Aa2 / RURB3 / STA Aa2 / RURBa2 / NEG Baa2 / STA A1 / STA Aa2 / STA Baa3 / POS B1 / STA Baa1 / STA Aaa / STA Aa3 / STA A3 / STA A1 / STA Baa2 / STA Baa1 / STA B3 / STA B1 / STA Ba3 / STA Ba1 / STA Aaa / STA Aaa / STA B3 / STA Aaa / STA A1 / STA B3 / STA Baa3 / POS -

Aaa / STA A1 / STA Aa2 / RURB3 / STA Aa2 / RURBa2 / NEG Baa2 / STA A1 / STA Aa2 / STA Baa3 / POS B1 / STA Baa1 / STA Aaa / STA Aa3 / STA A3 / STA A1 / STA Baa2 / STA Baa1 / STA B3 / STA B1 / STA Ba1 / STA Aaa / STA Aaa / STA B3 / STA Aaa / STA A1 / STA B3 / STA -

Papua New Guinea Paraguay Peru Philippines Poland Portugal [1] Qatar Romania Russia San Marino [1] Sark (Channel Islands) Saudi Arabia Senegal Singapore Slovakia [1] Slovenia [1] South Africa Spain [1] Sri Lanka St. Vincent & the Grenadines Suriname Sweden Switzerland Taiwan Thailand Trinidad and Tobago Tunisia Turkey Ukraine United Arab Emirates United Kingdom United States of America Uruguay

Ba2 / STA Ba3 / STA Baa2 / POS Baa3 / STA Aa1 / STA Aaa / STA Aa2 / STA A1 / STA A2 / STA Aaa / STA Aaa / STA Aa3 / STA A2 / STA Aaa / STA Aaa / STA Aaa / STA A1 / STA Aaa / STA A3 / STA Ba2 / STA Aaa / STA Aaa / STA Aa3 / STA A2 / STA A1 / STA Baa1 / NEG Ba1 / POS B1 / STA Aa2 / STA Aaa / STA Aaa / STA Baa1 / STA

B2 / STA B2 / STA Baa3 / POS Ba2 / STA A2 / STA Aaa / STA Aa2 / STA Baa3 / STA Baa1 / STA Aaa / STA Aaa / STA Aa3 / STA A2 / STA Aaa / STA Aaa / STA Aaa / STA A3 / STA Aaa / STA Baa1 / STA B2 / STA Aaa / STA Aaa / STA Aa3 / STA Baa1 / STA Baa1 / STA Baa3 / NEG Ba3 / POS B3 / STA Aa2 / STA Aaa / STA Aaa / STA Ba2 / STA

A1 Ba1 A2 A2 Aaa Aaa Aa2 Aa3 A1 Aaa Aaa Aa3 A2 Aaa Aaa Aaa Aa2 Aaa A3 A3 Aaa Aaa Aa3 Aa2 Aa3 Aa2 A2 Ba1 Aa2 Aaa Aaa A3

A3 Ba1 A2 A2 Aaa Aaa Aa2 Aa3 A1 Aa3 A2 Aaa Aaa Aaa Aa2 Aaa Baa1 Ba1 Aaa Aaa Aa3 Aa2 A1 Aa2 A2 Ba1 Aa2 Aaa Aaa A3

B1 / STA B1 / STA Baa3 / POS Ba2 / STA A2 / STA Ba2 / NEG Aa2 / STA Baa3 / STA Baa1 / STA Aa3 / STA B1 / STA Aaa / STA A1 / STA Aa2 / STA A3 / STA Aa2 / RURB1 / POS B1 / STA B1 / STA Aaa / STA Aaa / STA Aa3 / STA Baa1 / STA Baa1 / STA Baa3 / NEG Ba2 / POS B2 / STA Aa2 / STA Aaa / STA Aaa / NEG Ba1 / STA

B1 / STA B1 / STA Baa3 / POS Ba2 / STA A2 / STA Ba2 / NEG Aa2 / STA Baa3 / STA Baa1 / STA Aa3 / STA B1 / STA Aaa / STA A1 / STA Aa2 / STA A3 / STA Aa2 / RURB1 / STA Ba3 / STA Aaa / STA Aaa / STA Aa3 / STA Baa1 / STA Baa1 / STA Baa3 / NEG Ba2 / POS B2 / STA Aa2 / STA Aaa / STA Aaa / NEG Ba1 / STA

Venezuela Vietnam
[1] Country ceilings replaced by Eurozone's Aaa. [2] Wholesale Banks.

B1 / STA B1 / NEG

B3 / STA B2 / NEG

A3 Ba2

Baa1 Ba2

B2 / STA B1 / NEG

B1 / STA B1 / NEG

Supranationals Issuers
Long-Term
Issuer Outlook Senior Subordinate Short-Term

African Development Bank Arab Petroleum Investments Corp (APICORP) Asian Development Bank Black Sea Trade & Develop. Bank Caribbean Development Bank Central Amer.Bk for Econ. Integr Corporacion Andina de Fomento Council of Europe Develop. Bank Eurasian Development Bank Eurofima European Atomic Energy Community European Bank for Rec. & Dev. European Central Bank European Coal & Steel Community European Community European Investment Bank European Investment Fund European Union Fondo Latinoamericano de Reservs IBRD (World Bank) Int'l Fin. Facil. for Immunis. Inter-American Development Bank Inter-American Investment Corp International Finance Corp Islamic Development Bank Nordic Investment Bank

STA STA STA STA STA POS STA STA STA STA STA STA STA STA STA STA STA STA STA STA STA STA STA STA STA STA

Aaa A1 Aaa A3 [1] Aaa A2 A1 Aaa A3 Aaa Aaa Aaa Aaa [1] Aaa Aaa Aaa Aaa [1] Aaa [1] Aa2 Aaa Aaa Aaa Aa2 [1] Aaa Aaa [1] Aaa

Aa1

P-1 P-1 P-1 P-2 [1] P-1 [1] P-1 P-1 P-2 [1] P-1 P-1 P-1 [1] P-1 P-1 P-1 P-1 [1] P-1 [1] P-1 [1] P-1 [1] P-1 P-1 [1] P-1

North American Development Bank (NADB) PTA Bank Shelter-Afrique (Company for Habitat and Housing in Africa)
[1] Issuer Rating.

STA STA STA

Aaa Ba1 Ba1

Aaa

P-1

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