Fitch Sovereign Ratings Upgrade and Downgrade History

Fitch - Complete Sovereign Rating History Last Updated: 14th April 2011Foreign currency rating Local currency rating

Country Date long-term short-term outlook/Watch long-term outlook/WatchAbu Dhabi 2 Jul 2007 AA F1+ stable AA stableAngola 19 May 2010 B+ B positive B+ positiveArgentina 12 Jul 2010 B B stable B stableArgentina 18 Dec 2008 RD B - B- stableArgentina 1 Aug 2006 RD B - B stableArgentina 14 Dec 2005 RD B - B- stableArgentina 3 Jun 2005 DDD B - B- stableArgentina 14 Jan 2005 D D - B- stableArgentina 17 Jun 2004 DDD D - B- stableArgentina 26 Apr 2004 DDD C - B- stableArgentina 4 Jan 2002 DDD C - C -Argentina 3 Dec 2001 DDD D - DDD -Argentina 6 Nov 2001 C C Rating Watch negative C Rating Watch negativeArgentina 2 Nov 2001 CC C Rating Watch negative CC Rating Watch negativeArgentina 12 Oct 2001 CCC- C negative CCC- negativeArgentina 11 Jul 2001 B- B negative B- negativeArgentina 28 Mar 2001 B+ B Rating Watch negative B+ Rating Watch negativeArgentina 20 Mar 2001 BB- B Rating Watch negative BB Rating Watch negativeArgentina 21 Sep 2000 BB B negative BB+ negativeArgentina 3 Dec 1997 BB B - BB+ -Argentina 28 May 1997 BB B - - -Armenia 13 Aug 2009 BB- B stable BB- stableArmenia 3 Jul 2008 BB B stable BB stableArmenia 1 May 2007 BB- B positive BB- positiveArmenia 24 May 2006 BB- B stable BB- stableAruba 8 Jun 2006 BBB F3 stable BBB stableAruba 12 Jun 2003 BBB F3 negative BBB negativeAruba 29 Apr 2002 BBB F3 stable BBB stableAustralia 3 Feb 2003 AA+ F1+ stable AAA stableAustralia 21 Sep 2000 AA F1+ stable AAA stableAustralia 19 Nov 1998 AA F1+ - AAA -Australia 18 Jun 1998 AA F1+ Rating Watch negative AAA Rating Watch negativeAustralia 25 Jan 1996 AA F1+ - AAA -Austria 21 Sep 2000 AAA F1+ stable AAA stableAustria 26 Oct 1995 AAA F1+ - AAA -Austria 10 Aug 1994 AAA - - - -Azerbaijan 20 May 2010 BBB- F3 stable BBB- stableAzerbaijan 5 Feb 2007 BB+ B stable BB+ stableAzerbaijan 22 Nov 2004 BB B stable BB stableAzerbaijan 25 Jul 2002 BB- B positive BB- positiveAzerbaijan 20 Jul 2001 BB- B stable BB- stableAzerbaijan 21 Sep 2000 B+ B positive BB- positiveAzerbaijan 3 Jul 2000 B+ B - BB- -Bahrain 15 Mar 2011 BBB F3 Rating Watch negative BBB+ Rating Watch negativeBahrain 3 Mar 2011 A- F1 negative A negativeBahrain 17 Feb 2011 A F1 Rating Watch negative A+ Rating Watch negativeBahrain 24 Aug 2007 A F1 stable A+ stableBahrain 17 Aug 2006 A- F1 positive A positiveBahrain 10 Jan 2003 A- F1 stable A stableBahrain 16 Dec 2002 BBB F3 Rating Watch positive BBB+ Rating Watch positiveBahrain 27 Nov 2001 BBB F3 stable BBB+ stableBahrain 21 Sep 2000 BBB- F3 stable BBB+ stableBahrain 16 Feb 2000 BBB- F3 - BBB+ -Belgium 2 May 2006 AA+ F1+ stable AA+ stableBelgium 17 Jun 2002 AA F1+ stable AA stableBelgium 21 Sep 2000 AA- F1+ stable AA- stableBelgium 16 Dec 1998 AA- F1+ - AA- -Belgium 14 Jul 1998 AA+ F1+ - AA+ -Belgium 26 Oct 1995 AA+ F1+ - AAA -Belgium 10 Aug 1994 AA+ - - - -Benin 15 Sep 2004 B B stable B stableBermuda 11 Aug 2006 AA+ F1+ stable AAA stableBermuda 21 Sep 2000 AA F1+ stable AAA stableBermuda 26 Oct 1995 AA F1+ - AAA -Bermuda 10 Aug 1994 AA - - - -Bolivia 5 Oct 2010 B+ B stable B+ stableBolivia 8 Sep 2009 B B stable B stableBolivia 27 Jul 2007 B- B stable B- stableBolivia 17 Jun 2005 B- B negative B- negativeBolivia 17 Mar 2004 B- B stable B- stableBrazil 4 Apr 2011 BBB F2 stable BBB stableBrazil 28 Jun 2010 BBB- F3 positive BBB- positiveBrazil 29 May 2008 BBB- F3 stable BBB- stable

Foreign currency rating Local currency ratingBrazil 9 May 2007 BB+ B stable BB+ stableBrazil 5 Feb 2007 BB B positive BB positiveBrazil 28 Jun 2006 BB B stable BB stableBrazil 11 Oct 2005 BB- B positive BB- positiveBrazil 28 Sep 2004 BB- B stable BB- stableBrazil 6 Nov 2003 B+ B stable B+ stableBrazil 3 Jun 2003 B B positive B positiveBrazil 10 Mar 2003 B B stable B stableBrazil 21 Oct 2002 B B negative B negativeBrazil 1 Aug 2002 B+ B Rating Watch negative B+ Rating Watch negativeBrazil 20 Jun 2002 B+ B negative B+ negativeBrazil 17 Jul 2001 BB- B negative B+ negativeBrazil 21 Sep 2000 BB- B stable B+ stableBrazil 19 May 2000 BB- B - B+ -Brazil 22 Feb 2000 B+ B - B+ -Brazil 26 Jan 1999 B B - B -Brazil 3 Dec 1997 B+ B - BB- -Brazil 26 Oct 1995 B+ B - - -Brazil 1 Dec 1994 B+ - - - -Bulgaria 30 Apr 2009 BBB- F3 negative BBB negativeBulgaria 9 Nov 2008 BBB- F3 stable BBB stableBulgaria 30 Jan 2008 BBB F3 negative BBB+ negativeBulgaria 17 Aug 2005 BBB F3 stable BBB+ stableBulgaria 4 Aug 2004 BBB- F3 stable BBB stableBulgaria 24 Jul 2003 BB+ B positive BBB- positiveBulgaria 29 Oct 2002 BB B positive BB+ positiveBulgaria 14 Jan 2002 BB- B stable BB stableBulgaria 21 Sep 2000 B+ B positive BB positiveBulgaria 17 Apr 1998 B+ B - BB -Cameroon 6 Mar 2007 B B stable B- stableCameroon 12 Jun 2006 B B stable CCC positiveCameroon 21 Dec 2005 B- B positive CCC positiveCameroon 4 Nov 2005 B- B positive CCC+ positiveCameroon 15 Feb 2005 B- B stable CCC+ stableCameroon 5 Jul 2004 B B Rating Watch Negative B Rating Watch NegativeCameroon 4 Sep 2003 B B stable B stableCanada 12 Aug 2004 AAA F1+ stable AAA stableCanada 3 Apr 2001 AA+ F1+ stable AAA stableCanada 21 Sep 2000 AA F1+ stable AAA stableCanada 26 Oct 1995 AA F1+ - AAA -Canada 10 Aug 1994 AA - - - -Cape Verde 22 Jun 2009 B+ B stable BB- stableCape Verde 11 Mar 2008 B+ B positive BB- positiveCape Verde 15 Aug 2003 B+ B stable BB- stableChile 1 Feb 2011 A+ F1 stable AA- stableChile 10 Nov 2008 A F1 stable A+ stableChile 15 May 2007 A F1 positive A+ positiveChile 28 Mar 2005 A F1 stable A+ stableChile 2 Feb 2004 A- F1 positive A+ stableChile 24 Feb 2003 A- F1 stable A+ stableChile 21 Sep 2000 A- F1 stable AA- stableChile 3 Dec 1997 A- F1 - AA- -Chile 25 Nov 1996 A- F1 - AA -Chile 26 Oct 1995 A- F1 - - -Chile 30 Aug 1995 A- - - - -Chile 10 Nov 1994 BBB+ - - - -China 12 Apr 2011 A+ F1 stable AA- negativeChina 6 Nov 2007 A+ F1 stable AA- stableChina 13 Sep 2006 A F1 positive A+ positiveChina 17 Oct 2005 A F1 stable A+ stableChina 13 Oct 2003 A- F1 positive A stableChina 6 Dec 2001 A- F1 stable A stableChina 21 Sep 2000 A- F1 stable - stableChina 22 Dec 1998 A- F1 - - -China 11 Dec 1997 A- - - - -Colombia 21 Oct 2010 BB+ B positive BBB- positiveColombia 21 Jun 2007 BB+ B stable BBB- stableColombia 5 Jun 2006 BB B positive BBB- stableColombia 3 May 2004 BB B stable BBB- stableColombia 29 Aug 2002 BB B negative BBB- negativeColombia 10 Jan 2002 BB B stable BBB- stableColombia 24 Oct 2000 BB+ B negative BBB negativeColombia 21 Sep 2000 BB+ B stable BBB stableColombia 17 Mar 2000 BB+ B - BBB -Colombia 1 Sep 1999 BBB- F3 - BBB+ -Colombia 20 Mar 1998 BBB F3 - A- -Colombia 10 Aug 1994 BBB - - - -Costa Rica 4 Mar 2011 BB+ B stable BB+ stableCosta Rica 4 Oct 2006 BB B stable BB+ stableCosta Rica 28 Apr 2003 BB B negative BB+ negative

Foreign currency rating Local currency ratingCosta Rica 21 Sep 2000 BB B stable BB+ stableCosta Rica 11 May 1998 BB B - BB+ -Croatia 17 Jan 2011 BBB- F3 negative BBB negativeCroatia 21 May 2009 BBB- F3 negative BBB+ negativeCroatia 6 Jul 2005 BBB- F3 stable BBB+ stableCroatia 8 Jul 2003 BBB- F3 positive BBB+ positiveCroatia 28 Jun 2001 BBB- F3 stable BBB+ stableCroatia 21 Sep 2000 BB+ B positive BBB positiveCroatia 29 Apr 1999 BB+ B - BBB -Croatia 17 Jan 1997 BBB- F3 - A- -Cyprus 12 Jul 2007 AA- F1+ stable AA- stableCyprus 4 Nov 2003 A+ F1 positive AA stableCyprus 1 Feb 2002 A+ F1 stable AA stableCzech Republic 4 Jun 2010 A+ F1 positive AA- positiveCzech Republic 4 Mar 2008 A+ F1 stable AA- stableCzech Republic 26 Aug 2005 A F1 stable A+ stableCzech Republic 20 Jun 2003 A- F2 stable A stableCzech Republic 28 Mar 2001 BBB+ F2 stable A stableCzech Republic 21 Sep 2000 BBB+ F2 stable A+ stableCzech Republic 22 Dec 1998 BBB+ F2 - A+ -Czech Republic 24 Nov 1997 BBB+ F2 - AA- -Czech Republic 26 Oct 1995 A- F1 - - -Czech Republic 10 Aug 1995 A- - - - -Denmark 10 Nov 2003 AAA F1+ stable AAA stableDenmark 29 Sep 2000 AA+ F1+ stable AAA stableDenmark 21 Sep 2000 AA+ F1+ positive AAA positiveDenmark 26 Oct 1995 AA+ F1+ - AAA -Denmark 10 Aug 1994 AA+ - - - -Dominican Republic 5 Jan 2011 B B positive B positiveDominican Republic 25 Sep 2008 B B stable B stableDominican Republic 26 Sep 2006 B B positive B positiveDominican Republic 5 May 2006 B B stable B stableDominican Republic 19 Jul 2005 B- B stable B stableDominican Republic 11 May 2005 DDD D - B stableDominican Republic 5 May 2005 DDD D - CCC+ Rating Watch positiveDominican Republic 21 Apr 2005 C C Rating Watch negative CCC+ Rating Watch negativeDominican Republic 30 Jan 2004 CCC+ C Rating Watch negative CCC+ Rating Watch negativeDominican Republic 24 Oct 2003 B B Rating Watch negative B Rating Watch negativeDominican Republic 8 Oct 2003 B+ B Rating Watch negative B+ Rating Watch negativeDominican Republic 11 Aug 2003 B+ B stable B+ stableEcuador 8 Nov 2010 B- B stable - -Ecuador 4 Sep 2009 CCC C - - -Ecuador 15 Dec 2008 RD D Rating Watch negative - -Ecuador 17 Nov 2008 CCC C Rating Watch negative - -Ecuador 30 Oct 2007 CCC C stable - -Ecuador 23 Jan 2007 CCC C Rating Watch negative - -Ecuador 29 Aug 2005 B- B negative - -Ecuador 7 Oct 2004 B- B stable - -Ecuador 26 Sep 2003 CCC+ C stable - -Ecuador 24 Mar 2003 CCC+ C positive - -Ecuador 8 Nov 2002 CCC+ C stable - -Egypt 3 Feb 2011 BB B Rating Watch negative BB+ Rating Watch negativeEgypt 28 Jan 2011 BB+ B negative BBB- negativeEgypt 18 Aug 2008 BB+ B stable BBB- stableEgypt 18 Jun 2007 BB+ B positive BBB stableEgypt 15 Dec 2004 BB+ B stable BBB stableEgypt 2 Dec 2003 BB+ B stable BBB negativeEgypt 21 Aug 2002 BB+ B stable BBB stableEgypt 22 Jan 2002 BBB- F3 negative BBB+ negativeEgypt 22 Aug 2001 BBB- F3 stable BBB+ stableEgypt 21 Sep 2000 BBB- F3 stable A- stableEgypt 19 Aug 1997 BBB- F3 - A- -El Salvador 18 Jun 2009 BB B negative BB negativeEl Salvador 13 Oct 2008 BB+ B negative BB+ negativeEl Salvador 31 Jan 2005 BB+ B stable BB+ stableEl Salvador 21 Aug 2002 BB+ B negative BB+ negativeEl Salvador 16 Aug 2001 BB+ B stable BB+ stableEl Salvador 21 Sep 2000 BB+ B stable BBB stableEl Salvador 8 May 2000 BB+ B - BBB -El Salvador 5 May 1998 BB+ B - A- -El Salvador 23 Sep 1996 BB B - A- -Estonia 19 Jul 2010 A F1 stable A stableEstonia 30 Mar 2010 BBB+ F2 Rating Watch positive A- Rating Watch positiveEstonia 5 Feb 2010 BBB+ F2 stable A- stableEstonia 8 Apr 2009 BBB+ F2 negative A- negativeEstonia 3 Oct 2008 A- F1 negative A negativeEstonia 31 Jan 2008 A F1 negative A+ negativeEstonia 31 Aug 2006 A F1 stable A+ stableEstonia 7 Jul 2004 A F1 positive A+ stableEstonia 22 Oct 2003 A- F1 positive A+ stable

Foreign currency rating Local currency ratingEstonia 30 Aug 2001 A- F1 stable A+ stableEstonia 30 Jul 2001 BBB+ F2 Rating Watch positive A Rating Watch positiveEstonia 28 Sep 2000 BBB+ F2 stable A stableEstonia 7 Aug 2000 BBB F3 Rating Watch positive A Rating Watch positiveEstonia 11 Sep 1997 BBB F3 - A -Finland 21 Sep 2000 AAA F1+ stable AAA stableFinland 5 Aug 1998 AAA F1+ - AAA -Finland 14 Jul 1998 AA+ F1+ - AA+ -Finland 29 Apr 1997 AA+ F1+ - AAA -Finland 12 Mar 1996 AA F1+ - AAA -Finland 26 Oct 1995 AA- F1+ - AAA -Finland 10 Aug 1994 AA- - - - -France 21 Sep 2000 AAA F1+ stable AAA stableFrance 26 Oct 1995 AAA F1+ - AAA -France 10 Aug 1994 AAA - - - -Gabon 29 Oct 2007 BB- B stable BB- stableGambia 6 Jul 2007 Rating Withdrawn - - - -Gambia 21 Dec 2005 CCC C stable CCC stableGambia 26 Jan 2005 CCC+ C stable CCC+ stableGambia 11 Nov 2002 B- B stable B- stableGeorgia 3 Mar 2011 B+ B positive B+ positiveGeorgia 26 Aug 2009 B+ B stable B+ stableGeorgia 7 Apr 2009 B+ B Rating Watch negative B+ Rating Watch negativeGeorgia 8 Aug 2008 B+ B negative B+ negativeGeorgia 18 Jul 2007 BB- B stable BB- stableGermany 21 Sep 2000 AAA F1+ stable AAA stableGermany 26 Oct 1995 AAA F1+ - AAA -Germany 10 Aug 1994 AAA - - - -Ghana 24 Sep 2010 B+ B stable B+ stableGhana 3 Mar 2009 B+ B negative B+ negativeGhana 7 Feb 2008 B+ B stable B+ stableGhana 1 Feb 2006 B+ B positive B+ positiveGhana 17 Mar 2005 B+ B stable B+ stableGhana 2 Dec 2003 B B positive B positiveGreece 14 Jan 2011 BB+ B negative BB+ negativeGreece 21 Dec 2010 BBB- F2 Rating Watch negative BBB- Rating Watch negativeGreece 9 Apr 2010 BBB- F2 negative BBB- negativeGreece 8 Dec 2009 BBB+ F2 negative BBB+ negativeGreece 22 Oct 2009 A- F1 negative A- negativeGreece 12 May 2009 A F1 negative A negativeGreece 20 Oct 2008 A F1 stable A stableGreece 5 Mar 2007 A F1 positive A positiveGreece 16 Dec 2004 A F1 stable A stableGreece 28 Sep 2004 A+ F1 Rating Watch negative A+ Rating Watch negativeGreece 20 Oct 2003 A+ F1 stable A+ stableGreece 23 Oct 2002 A F1 positive A positiveGreece 20 Jun 2001 A F1 stable A stableGreece 21 Sep 2000 A- F1 stable A- stableGreece 27 Jul 2000 A- F1 - A- -Greece 13 Mar 2000 BBB+ F2 Rating Watch positive A- Rating Watch positiveGreece 25 Oct 1999 BBB+ F2 - A- -Greece 10 Aug 1999 BBB F3 Rating Watch positive - Rating Watch positiveGreece 4 Jun 1997 BBB F3 - - -Greece 13 Nov 1995 BBB- F3 - - -Guatemala 22 Feb 2006 BB+ B stable BB+ stableHong Kong 26 Nov 2010 AA+ F1+ stable AA+ stableHong Kong 12 Jul 2007 AA F1+ stable AA+ stableHong Kong 24 Jul 2006 AA- F1+ positive AA+ stableHong Kong 16 May 2004 AA- F1+ stable AA+ stableHong Kong 24 Apr 2003 AA- F1+ negative AA+ negativeHong Kong 25 Jun 2001 AA- F1+ stable AA+ stableHong Kong 21 Sep 2000 A+ F1+ stable AA+ stableHong Kong 14 Nov 1996 A+ F1+ - AA+ -Hong Kong 24 Nov 1995 A+ F1+ - - -Hong Kong 26 Oct 1995 A+ F1 - - -Hong Kong 9 Aug 1995 A+ - - - -Hong Kong 10 Aug 1994 AA- - - - -Hungary 2 Mar 2009 BBB F3 negative BBB+ negativeHungary 9 Nov 2008 BBB F3 stable BBB+ stableHungary 15 Oct 2008 BBB+ F2 negative A- negativeHungary 5 Nov 2007 BBB+ F2 stable A- stableHungary 20 Sep 2006 BBB+ F2 negative A- negativeHungary 6 Dec 2005 BBB+ F2 stable A- stableHungary 12 Jan 2005 A- F2 negative A stableHungary 15 Jul 2003 A- F2 negative A+ negativeHungary 30 Nov 2000 A- F2 stable A+ stableHungary 21 Sep 2000 BBB+ F2 positive A positiveHungary 29 Oct 1999 BBB+ F2 - A -Hungary 2 Jul 1998 BBB F3 - A -Hungary 24 Jun 1997 BBB F3 - A- -

Foreign currency rating Local currency ratingHungary 23 May 1997 BBB- F3 Rating Watch positive BBB+ Rating Watch positiveHungary 25 Apr 1996 BBB- F3 - BBB+ -Iceland 5 Jan 2010 BB+ B negative BBB+ negativeIceland 23 Dec 2009 BBB- F3 negative A- negativeIceland 8 Oct 2008 BBB- F3 Rating Watch negative A- Rating Watch negativeIceland 30 Sep 2008 A- F2 Rating Watch negative AA Rating Watch negativeIceland 1 Apr 2008 A+ F1 negative AA+ negativeIceland 15 Mar 2007 A+ F1 stable AA+ stableIceland 21 Feb 2006 AA- F1+ negative AAA negativeIceland 31 Mar 2003 AA- F1+ stable AAA stableIceland 15 Feb 2002 AA- F1+ negative AAA negativeIceland 21 Sep 2000 AA- F1+ stable AAA stableIceland 3 Feb 2000 AA- F1+ - AAA -India 14 Jun 2010 BBB- F3 stable BBB- stableIndia 15 Jul 2008 BBB- F3 stable BBB- negativeIndia 1 Aug 2006 BBB- F3 stable BBB- stableIndia 21 Jan 2004 BB+ B stable BB+ stableIndia 22 Nov 2001 BB B stable BB+ stableIndia 31 May 2001 BB+ B negative BBB- negativeIndia 21 Sep 2000 BB+ B stable BBB- stableIndia 8 Mar 2000 BB+ B - BBB- -Indonesia 24 Feb 2011 BB+ B positive BB+ positiveIndonesia 25 Jan 2010 BB+ B stable BB+ stableIndonesia 14 Feb 2008 BB B stable BB stableIndonesia 28 Jan 2007 BB- B positive BB- positiveIndonesia 13 Feb 2006 BB- B stable BB- stableIndonesia 26 Jan 2005 BB- B positive BB- positiveIndonesia 4 Oct 2004 B+ B positive B+ positiveIndonesia 20 Nov 2003 B+ B stable B+ stableIndonesia 1 Aug 2002 B B stable B stableIndonesia 30 Nov 2001 B- B stable B- stableIndonesia 14 Sep 2001 B- B positive B- positiveIndonesia 21 Sep 2000 B- B stable B- stableIndonesia 19 May 2000 B- B - B+ -Indonesia 26 Apr 1999 B- B - BB- -Indonesia 16 Mar 1998 B- B Rating Watch negative BB+ Rating Watch negativeIndonesia 21 Jan 1998 B+ B Rating Watch negative BBB- Rating Watch negativeIndonesia 8 Jan 1998 BB- B - BBB- -Indonesia 22 Dec 1997 BB+ B - BBB+ -Indonesia 17 Dec 1997 BBB- F3 Rating Watch negative A Rating Watch negativeIndonesia 4 Jun 1997 BBB- F3 - A -Iran 24 Apr 2008 Rating Withdrawn - - - -Iran 24 Apr 2006 B+ B stable B+ stableIran 6 Feb 2006 BB- B negative BB- negativeIran 14 Dec 2004 BB- B stable BB- stableIran 9 Dec 2003 B+ B positive B+ positiveIran 10 May 2002 B+ B stable B+ stableIreland 1 Apr 2011 BBB+ F2 rating watch negative BBB+ rating watch negativeIreland 9 Dec 2010 BBB+ F2 stable BBB+ stableIreland 6 Oct 2010 A+ F1 negative A+ negativeIreland 4 Nov 2009 AA- F1+ stable AA- stableIreland 8 Mar 2009 AA+ F1+ negative AA+ negativeIreland 6 Mar 2009 AAA F1+ Rating Watch negative AAA Rating Watch negativeIreland 21 Sep 2000 AAA F1+ stable AAA stableIreland 16 Dec 1998 AAA F1+ - AAA -Ireland 14 Jul 1998 AA+ F1+ - AA+ -Ireland 26 Oct 1995 AA+ F1+ - AAA -Ireland 10 Oct 1994 AA+ - - - -Israel 11 Feb 2008 A F1 stable A+ stableIsrael 18 Dec 2006 A- F1 positive A positiveIsrael 14 Feb 2005 A- F1 stable A stableIsrael 16 Dec 2003 A- F1 stable A negativeIsrael 22 Oct 2002 A- F1 negative A negativeIsrael 22 Oct 2001 A- F1 negative A+ negativeIsrael 21 May 2001 A- F1 Rating Watch negative A+ Rating Watch negativeIsrael 21 Sep 2000 A- F1 stable A+ stableIsrael 6 May 1999 A- F1 - A+ -Israel 11 Dec 1995 A- F2 - - -Israel 24 Nov 1995 BBB+ F2 - - -Italy 19 Oct 2006 AA- F1+ stable AA- stableItaly 25 May 2006 AA F1+ Rating Watch negative AA Rating Watch negativeItaly 29 Jun 2005 AA F1+ negative AA negativeItaly 17 Jun 2002 AA F1+ stable AA stableItaly 21 Sep 2000 AA- F1+ stable AA- stableItaly 14 Jul 1998 AA- F1+ - AA- -Italy 26 Oct 1995 AA- F1+ - AAA -Italy 23 Feb 1995 AA- - - - -Italy 10 Aug 1994 AA - - - -Jamaica 16 Feb 2010 B- B stable B- stable

Foreign currency rating Local currency ratingJamaica 3 Feb 2010 CCC C Rating Watch positive CCC Rating Watch positiveJamaica 3 Feb 2010 RD D - D -Jamaica 14 Jan 2010 CCC C negative C negativeJamaica 24 Nov 2009 CCC C negative CCC negativeJamaica 18 Nov 2008 B B negative B negativeJamaica 29 Aug 2006 B+ B+ stable B+ stableJapan 9 May 2005 AA F1+ stable AA- stableJapan 21 Nov 2002 AA F1+ negative AA- negativeJapan 26 Nov 2001 AA F1+ negative AA negativeJapan 2 Mar 2001 AA+ F1+ negative AA+ negativeJapan 21 Sep 2000 AA+ F1+ stable AA+ stableJapan 29 Jun 2000 AA+ F1+ - AA+ -Japan 21 Sep 1998 AA+ F1+ - AAA -Japan 1 Sep 1998 AAA F1+ Rating Watch negative AAA Rating Watch negativeJapan 26 Oct 1995 AAA F1+ - AAA -Japan 10 Aug 1994 AAA - - - -Kazakhstan 20 Dec 2010 BBB- F3 positive BBB positiveKazakhstan 16 Dec 2009 BBB- F3 stable BBB stableKazakhstan 5 Jun 2009 BBB- F3 negative BBB negativeKazakhstan 19 Feb 2009 BBB- F3 Rating Watch negative BBB Rating Watch negativeKazakhstan 9 Nov 2008 BBB- F3 negative BBB negativeKazakhstan 17 Dec 2007 BBB F3 negative BBB+ negativeKazakhstan 8 Oct 2007 BBB F3 stable BBB+ stableKazakhstan 21 Dec 2006 BBB F3 positive BBB+ positiveKazakhstan 20 Dec 2005 BBB F3 stable BBB+ stableKazakhstan 27 Oct 2004 BBB- F3 stable BBB stableKazakhstan 19 Nov 2003 BB+ B positive BBB- positiveKazakhstan 11 Oct 2002 BB+ B stable BBB- stableKazakhstan 12 Jul 2001 BB B stable BB+ stableKazakhstan 21 Sep 2000 BB- B stable BB stableKazakhstan 5 May 2000 BB- B - BB -Kazakhstan 15 Feb 1999 BB- B - BBB- -Kazakhstan 27 Jan 1998 BB B - BBB- -Kazakhstan 5 Nov 1996 BB- B - - -Kenya 16 Jan 2009 B+ B stable BB- stableKenya 30 Jan 2008 B+ B negative BB- negativeKenya 12 Dec 2007 B+ B stable BB- stableKorea 1 Sep 2009 A+ F1 stable AA stableKorea 9 Nov 2008 A+ F1 negative AA negativeKorea 23 Oct 2005 A+ F1 stable AA stableKorea 19 Sep 2005 A F1 Rating Watch positive AA- Rating Watch positiveKorea 27 Jun 2002 A F1 stable AA- stableKorea 13 May 2002 BBB+ F2 Rating Watch positive A Rating Watch positiveKorea 21 Sep 2000 BBB+ F2 stable A stableKorea 29 Mar 2000 BBB+ F2 - A -Korea 24 Jun 1999 BBB F2 - A- -Korea 26 Apr 1999 BBB- F3 Rating Watch positive A- Rating Watch positiveKorea 19 Jan 1999 BBB- F3 - A- -Korea 22 Dec 1998 BB+ B Rating Watch positive A- Rating Watch positiveKorea 19 Jun 1998 BB+ B - A- -Korea 3 Feb 1998 BB+ B Rating Watch positive A- Rating Watch positiveKorea 21 Jan 1998 B- B Rating Watch positive BBB- Rating Watch positiveKorea 23 Dec 1997 B- B Rating Watch negative BBB- Rating Watch negativeKorea 12 Dec 1997 BBB- F3 Rating Watch negative A Rating Watch negativeKorea 11 Dec 1997 BBB- F3 Rating Watch negative AA Rating Watch negativeKorea 26 Nov 1997 A F2 - AA -Korea 18 Nov 1997 A+ F1 - AA+ -Korea 27 Jun 1996 AA- F1+ - AAA -Kuwait 4 Sep 2008 AA F1+ stable AA stableKuwait 10 Jun 2002 AA- F1+ stable AA stableKuwait 24 Aug 2001 A+ F1 positive AA positiveKuwait 12 Jun 2001 A+ F1 positive - positiveKuwait 21 Sep 2000 A F1 positive - positiveKuwait 20 Dec 1995 A F1 - - -Latvia 15 Mar 2011 BBB- F3 positive BBB positiveLatvia 3 Sep 2010 BB+ B stable BBB- stableLatvia 8 Apr 2009 BB+ B negative BBB- negativeLatvia 23 Dec 2008 BBB- F3 negative BBB negativeLatvia 12 Nov 2008 BBB- F3 Rating Watch negative BBB Rating Watch negativeLatvia 3 Oct 2008 BBB F3 negative BBB+ negativeLatvia 31 Jan 2008 BBB+ F2 negative A- negativeLatvia 17 Aug 2007 BBB+ F2 stable A- stableLatvia 5 Apr 2007 A- F2 negative A negativeLatvia 26 Aug 2005 A- F2 stable A stableLatvia 7 Jul 2004 A- F2 positive A stableLatvia 4 Nov 2003 BBB+ F3 positive A stableLatvia 21 Jul 2003 BBB+ F3 stable A stableLatvia 17 Jul 2001 BBB F3 positive A positiveLatvia 21 Sep 2000 BBB F3 stable A stableLatvia 29 Jun 1998 BBB F3 - A -

Foreign currency rating Local currency ratingLebanon 31 Mar 2010 B B stable B stableLebanon 14 Jul 2006 B- B stable B- stableLebanon 18 Nov 2005 B- B positive B- positiveLebanon 21 Sep 2001 B- B stable B- stableLebanon 2 Feb 2001 B+ B stable B+ stableLebanon 21 Sep 2000 BB- B negative BB negativeLebanon 30 Jun 1999 BB- B - BB -Lebanon 4 Jun 1998 BB- B - BB+ -Lebanon 11 Feb 1998 BB B Rating Watch negative BBB- Rating Watch negativeLebanon 26 Feb 1997 BB B - BBB- -Lesotho 27 Apr 2010 BB- B stable BB negativeLesotho 18 Sep 2006 BB- B stable BB stableLesotho 4 Nov 2005 BB- B negative BB+ negativeLesotho 30 Nov 2004 BB- B stable BB+ stableLesotho 26 Sep 2003 B+ B positive BB positiveLesotho 2 Sep 2002 B+ B stable BB stableLibya 13 Apr 2011 B B stable B stableLibya 1 Mar 2011 BB B Rating Watch negative BB Rating Watch negativeLibya 21 Feb 2011 BBB F3 Rating Watch negative BBB Rating Watch negativeLibya 7 May 2009 BBB+ F2 stable BBB+ stableLithuania 8 Mar 2010 BBB F3 stable BBB+ stableLithuania 8 Apr 2009 BBB F3 negative BBB+ negativeLithuania 22 Dec 2008 BBB+ F2 negative A- negativeLithuania 3 Oct 2008 A- F1 negative A negativeLithuania 7 Dec 2007 A F1 negative A+ negativeLithuania 23 Oct 2006 A F1 stable A+ stableLithuania 7 Jul 2004 A- F2 positive A stableLithuania 28 Jan 2004 BBB+ F2 positive A stableLithuania 4 Nov 2003 BBB F3 positive A- stableLithuania 17 Dec 2002 BBB F3 stable A- stableLithuania 28 Feb 2002 BBB- F3 positive BBB+ positiveLithuania 16 May 2001 BBB- F3 stable BBB+ stableLithuania 21 Sep 2000 BB+ B stable BBB+ stableLithuania 28 Jan 1997 BB+ B - BBB+ -Luxembourg 21 Sep 2000 AAA F1+ stable AAA stableLuxembourg 26 Oct 1995 AAA F1+ - AAA -Luxembourg 10 Aug 1994 AAA - - - -Macedonia 27 Oct 2010 BB+ B stable BB+ stableMacedonia 21 May 2009 BB+ B negative BB+ negativeMacedonia 4 Nov 2008 BB+ B stable BB+ stableMacedonia 14 Aug 2007 BB+ B positive BB+ positiveMacedonia 13 Jun 2006 BB+ B stable BB+ stableMacedonia 1 Nov 2005 BB B positive BB positiveMalawi 25 Aug 2009 Rating WithdrawnMalawi 6 Mar 2007 B- B stable B- stableMalawi 21 Dec 2005 CCC C positive CCC positiveMalawi 30 Jul 2004 CCC+ C positive CCC+ positiveMalawi 20 May 2003 CCC+ C stable CCC+ stableMalaysia 9 Jun 2009 A- F2 stable A stableMalaysia 1 Feb 2009 A- F2 stable A+ negativeMalaysia 9 Nov 2008 A- F2 stable A+ stableMalaysia 22 Jan 2008 A- F2 positive A+ stableMalaysia 8 Nov 2004 A- F2 stable A+ stableMalaysia 6 Apr 2004 BBB+ F2 positive A positiveMalaysia 7 Aug 2002 BBB+ F2 stable A stableMalaysia 9 Apr 2002 BBB F2 positive A- positiveMalaysia 12 Sep 2001 BBB F2 stable A- stableMalaysia 21 Sep 2000 BBB F2 positive A- positiveMalaysia 7 Dec 1999 BBB F2 - A- -Malaysia 9 Sep 1999 BBB- F3 Rating Watch positive BBB Rating Watch positiveMalaysia 26 Apr 1999 BBB- F3 - BBB -Malaysia 9 Sep 1998 BB B - BBB -Malaysia 13 Aug 1998 BBB- F3 - A- -Mali 4 Dec 2009 Rating Withdrawn - - - -Mali 30 Apr 2004 B- B stable B- stableMalta 12 Jul 2007 A+ F1 stable A+ stableMalta 4 Nov 2003 A F1 positive AA- stableMalta 21 Sep 2000 A F1 stable AA- stableMalta 23 Jun 1998 A F1 - AA- -Malta 20 Jul 1996 A F1 - - -Mexico 23 Nov 2009 BBB F2 stable BBB+ stableMexico 10 Nov 2008 BBB+ F2 negative A- negativeMexico 19 Sep 2007 BBB+ F2 stable A- stableMexico 29 Mar 2007 BBB F3 positive BBB+ positiveMexico 7 Dec 2005 BBB F3 stable BBB+ stableMexico 15 Jan 2002 BBB- F3 stable BBB stableMexico 21 Sep 2000 BB+ B positive BBB positiveMexico 3 May 2000 BB+ B - BBB -Mexico 11 Apr 2000 BB B Rating Watch positive BBB- Rating Watch positiveMexico 15 Sep 1997 BB B - BBB- -

Foreign currency rating Local currency ratingMexico 26 Oct 1995 BB B - - -Mexico 30 Aug 1995 BB - - - -Moldova 17 Dec 2009 Rating Withdrawn - - - -Moldova 15 Sep 2008 B- B stable B stableMoldova 18 Jun 2007 B- B positive B positiveMoldova 4 Feb 2003 B- B stable B stableMoldova 18 Nov 2002 DD D Rating Watch positive CCC Rating Watch positiveMoldova 28 Jun 2002 DD D stable CCC stableMoldova 26 Jun 2001 CC C negative CCC negativeMoldova 7 Jun 2001 CCC+ C negative B negativeMoldova 21 Sep 2000 B- B stable B stableMoldova 25 Nov 1999 B- B - B -Moldova 30 Jul 1998 B B - B+ -Mongolia 23 Nov 2010 B+ B stable B+ stableMongolia 11 Oct 2009 B B stable B stableMongolia 19 Jan 2009 B B negative B negativeMongolia 10 Dec 2008 B+ B negative B+ negativeMongolia 3 Jun 2008 B+ B stable B+ stableMongolia 20 Sep 2007 B+ B positive B+ positiveMongolia 18 Jul 2005 B+ B stable B+ stableMorocco 19 Apr 2007 BBB- F3 stable BBB stableMozambique 15 Jul 2003 B B stable B+ stableNamibia 13 Dec 2010 BBB- F3 positive BBB positiveNamibia 7 Dec 2005 BBB- F3 stable BBB stableNigeria 22 Oct 2010 BB- B negative BB negativeNigeria 23 May 2008 BB- B stable BB stableNigeria 30 Jan 2006 BB- B stable BB- stableNetherlands 21 Sep 2000 AAA F1+ stable AAA stableNetherlands 26 Oct 1995 AAA F1+ - AAA -Netherlands 10 Aug 1994 AAA - - - -New Zealand 15 Jul 2009 AA+ F1+ negative AAA negativeNew Zealand 18 Aug 2003 AA+ F1+ stable AAA stableNew Zealand 27 Mar 2002 AA F1+ stable AAA stableNorway 21 Sep 2000 AAA F1+ stable AAA stableNorway 26 Oct 1995 AAA F1+ - AAA -Norway 13 Mar 1995 AAA - - - -Panama 23 Mar 2010 BBB- F3 positive BBB- positivePanama 29 Jan 2008 BB+ B positive BB+ positivePanama 3 Dec 2003 BB+ B stable BB+ stablePanama 24 Oct 2002 BB+ B negative BB+ negativePanama 4 Sep 2002 BB+ B Rating Watch negative BB+ Rating Watch negativePanama 21 Sep 2000 BB+ B stable BB+ stablePanama 20 Jul 2000 BB+ B - BB+ -Panama 14 Feb 2000 BB+ B Rating Watch positive BB+ Rating Watch positivePanama 8 Sep 1998 BB+ B - BB+ -Papua New Guinea 24 Jan 2010 Rating Withdrawn - - - -Papua New Guinea 13 Mar 2008 B+ B stable B+ stablePapua New Guinea 9 Jan 2007 B B positive B+ stablePapua New Guinea 10 Jul 2003 B B stable B+ stablePapua New Guinea 21 Sep 2000 B+ B stable BB- stablePapua New Guinea 1 Jan 1999 B+ B - BB- -Peru 2 Jun 2010 BBB- F3 positive BBB positivePeru 2 Apr 2008 BBB- F3 stable BBB stablePeru 6 Mar 2007 BB+ B positive BBB- positivePeru 31 Aug 2006 BB+ B stable BBB- stablePeru 4 Nov 2005 BB B positive BB+ positivePeru 18 Nov 2004 BB B stable BB+ stablePeru 4 Jun 2004 BB- B positive BB+ stablePeru 22 Oct 2003 BB- B stable BB+ stablePeru 21 Aug 2002 BB- B negative BB+ negativePeru 29 Apr 2002 BB- B stable BB+ stablePeru 18 Apr 2001 BB- B negative BB+ negativePeru 8 Nov 2000 BB B Rating Watch negative BBB- Rating Watch negativePeru 21 Sep 2000 BB B stable BBB- stablePeru 14 Oct 1999 BB B - BBB- -Philippines 13 Feb 2006 BB B stable BB+ stablePhilippines 11 Jul 2005 BB B negative BB+ negativePhilippines 26 May 2005 BB B stable BB+ stablePhilippines 7 Dec 2004 BB B negative BB+ negativePhilippines 12 Jun 2003 BB B stable BB+ stablePhilippines 25 Nov 2002 BB+ B negative BBB- negativePhilippines 15 Mar 2001 BB+ B stable BBB- stablePhilippines 17 Jan 2001 BB+ B Rating Watch negative BBB Rating Watch negativePhilippines 21 Sep 2000 BB+ B stable BBB stablePhilippines 8 Jul 1999 BB+ B - BBB -Poland 18 Jan 2007 A- F2 stable A stablePoland 23 Mar 2005 BBB+ F2 positive A stablePoland 6 May 2004 BBB+ F2 stable A stablePoland 4 Nov 2003 BBB+ F2 positive A+ stablePoland 21 Sep 2000 BBB+ F2 stable A+ stable

Foreign currency rating Local currency ratingPoland 19 Nov 1998 BBB+ F2 - A+ -Poland 7 Jun 1996 BBB F3 - A- -Poland 29 Apr 1996 BB+ B Rating Watch positive - Rating Watch positivePoland 26 Oct 1995 BB+ B - - -Portugal 1 Apr 2011 BBB- F3 Rating Watch negative BBB- Rating Watch negativePortugal 24 Mar 2011 A- F2 Rating Watch negative A- Rating Watch negativePortugal 23 Dec 2010 A+ F1 negative A+ negativePortugal 24 Mar 2010 AA- F1+ negative AA- negativePortugal 3 Sep 2009 AA F1+ negative AA negativePortugal 1 May 2007 AA F1+ stable AA stablePortugal 29 Jun 2005 AA F1+ negative AA negativePortugal 21 Sep 2000 AA F1+ stable AA stablePortugal 14 Jul 1998 AA F1+ - AA -Portugal 4 Jun 1998 AA F1+ - AAA -Portugal 26 Oct 1995 AA- F1+ - AAA -Portugal 10 Aug 1994 AA- - - - -Ras Al Khaimah 23 Jan 2008 A F1 stable A stableRomania 2 Feb 2010 BB+ B stable BBB- stableRomania 9 Nov 2008 BB+ B negative BBB- negativeRomania 31 Jan 2008 BBB F3 negative BBB+ negativeRomania 31 Aug 2006 BBB F3 stable BBB+ stableRomania 17 Nov 2004 BBB- F3 stable BBB stableRomania 23 Aug 2004 BB B positive BB+ positiveRomania 18 Dec 2003 BB B stable BB+ stableRomania 24 Sep 2003 BB- B Rating Watch positive BB Rating Watch positiveRomania 30 Oct 2002 BB- B stable BB stableRomania 14 Jun 2002 B+ B stable BB- stableRomania 14 Nov 2001 B B positive B+ positiveRomania 16 Nov 2000 B B stable B stableRomania 21 Sep 2000 B- B stable B- stableRomania 24 Mar 1999 B- B - B- -Romania 23 Dec 1998 B B - BB- -Romania 23 Sep 1998 BB- B Rating Watch negative BBB- Rating Watch negativeRomania 11 Sep 1997 BB- B - BBB- -Romania 6 Mar 1996 BB- B - - -Russia 8 Sep 2010 BBB F3 positive BBB positiveRussia 22 Jan 2010 BBB F3 stable BBB stableRussia 4 Feb 2009 BBB F3 negative BBB negativeRussia 9 Nov 2008 BBB+ F2 negative BBB+ negativeRussia 25 Jul 2006 BBB+ F2 stable BBB+ stableRussia 3 Aug 2005 BBB F3 stable BBB stableRussia 18 Nov 2004 BBB- F3 stable BBB- stableRussia 13 May 2003 BB+ B stable BB+ stableRussia 2 May 2002 BB- B positive BB- positiveRussia 4 Oct 2001 B+ B stable B stableRussia 17 Jul 2001 B B positive B- positiveRussia 21 Sep 2000 B B stable B- stableRussia 29 Aug 2000 B B - B- -Russia 8 May 2000 B- B - - -Russia 14 Feb 2000 CCC C Rating Watch positive - Rating Watch positiveRussia 27 Aug 1998 CCC C - - -Russia 17 Aug 1998 B- B Rating Watch negative - Rating Watch negativeRussia 30 Jul 1998 BB- B - - -Russia 7 Jun 1998 BB B Rating Watch negative - Rating Watch negativeRussia 5 Jun 1998 BB+ B Rating Watch negative - Rating Watch negativeRussia 10 Mar 1998 BB+ B - - -Russia 12 Feb 1998 BB+ B Rating Watch negative - Rating Watch negativeRussia 7 Oct 1996 BB+ B - - -Rwanda 24 Aug 2010 B B stable B stableRwanda 16 Dec 2006 B- B positive B- positiveSan Marino 22 Oct 2009 A F1+ negative - -San Marino 13 May 2009 AA- F1+ Rating Watch negative - -San Marino 10 Jan 2001 AA F1+ stable - -Saudi Arabia 9 Jul 2008 AA- F1+ stable AA- stableSaudi Arabia 31 Jul 2007 A+ F1 positive A+ positiveSaudi Arabia 17 Aug 2006 A+ F1 stable A+ stableSaudi Arabia 24 Nov 2004 A F1 stable A stableSerbia 11 Nov 2010 BB- B stable BB- stableSerbia 23 Dec 2008 BB- B negative BB- negativeSerbia 19 May 2005 BB- B stable BB- stableSeychelles 3 Feb 2011 B B stable B+ stableSeychelles 1 Feb 2010 B- B positive B- positiveSingapore 14 May 2003 AAA F1+ stable AAA stableSingapore 21 Sep 2000 AA+ F1+ stable AAA stableSingapore 18 Nov 1998 AA+ F1+ - AAA -Slovakia 8 Jul 2008 A+ F1 stable A+ stableSlovakia 7 May 2008 A F1 Rating Watch positive A+ stableSlovakia 23 Jul 2007 A F1 positive A+ stableSlovakia 11 Oct 2005 A F1 stable A+ stableSlovakia 21 Sep 2004 A- F2 stable A+ stable

Foreign currency rating Local currency ratingSlovakia 22 Jan 2004 BBB+ F2 positive A stableSlovakia 4 Nov 2003 BBB F3 positive A- stableSlovakia 3 Mar 2003 BBB F3 stable A- stableSlovakia 1 Nov 2002 BBB- F3 positive BBB+ positiveSlovakia 20 Feb 2001 BB+ B positive BBB+ positiveSlovakia 21 Sep 2000 BB+ B stable BBB+ stableSlovakia 22 Dec 1998 BB+ B - BBB+ -Slovakia 5 Oct 1998 BBB- F3 Rating Watch negative A- Rating Watch negativeSlovakia 8 Aug 1996 BBB- F3 - A- -Slovenia 12 Jul 2006 AA F1+ stable AA stableSlovenia 7 Jul 2004 AA- F1+ positive AA stableSlovenia 4 Nov 2003 A+ F1 positive AA stableSlovenia 6 May 2003 A+ F1 stable AA stableSlovenia 29 May 2002 A F1 positive AA positiveSlovenia 21 Sep 2000 A F1 stable AA stableSlovenia 15 Dec 1999 A F1 - AA -Slovenia 9 May 1996 A- F1 - AA- -South Africa 17 Jan 2011 BBB+ F2 stable A stableSouth Africa 9 Nov 2008 BBB+ F2 negative A negativeSouth Africa 17 Jun 2008 BBB+ F2 stable A stableSouth Africa 25 Jul 2007 BBB+ F2 positive A positiveSouth Africa 25 Aug 2005 BBB+ F2 stable A stableSouth Africa 21 Oct 2004 BBB F3 positive A- positiveSouth Africa 2 May 2003 BBB F3 stable A- stableSouth Africa 11 Mar 2003 BBB- F3 Rating Watch positive BBB+ Rating Watch positiveSouth Africa 20 Aug 2002 BBB- F3 positive BBB+ positiveSouth Africa 21 Sep 2000 BBB- F3 stable BBB+ stableSouth Africa 27 Jun 2000 BBB- F3 - BBB+ -South Africa 19 May 2000 BB+ B - BBB+ -South Africa 28 May 1998 BB B - BBB -South Africa 17 Feb 1998 BB B Rating Watch positive BBB Rating Watch positiveSouth Africa 5 Jun 1996 BB B - BBB -South Africa 26 Oct 1995 BB B - - -South Africa 22 Sep 1994 BB - - - -Spain 4 Mar 2011 AA+ F1+ negative AA+ negativeSpain 28 May 2010 AA+ F1+ stable AA+ stableSpain 10 Dec 2003 AAA F1+ stable AAA stableSpain 21 Sep 2000 AA+ F1+ stable AA+ stableSpain 1 Sep 1999 AA+ F1+ - AA+ -Spain 14 Jul 1998 AA F1+ - AA -Spain 26 Oct 1995 AA F1+ - AAA -Spain 10 Aug 1994 AA - - - -Sri Lanka 21 Sep 2010 B+ B positive B+ positiveSri Lanka 9 Oct 2009 B+ B stable B+ stableSri Lanka 27 Feb 2009 B+ B negative B+ negativeSri Lanka 2 Apr 2008 B+ B stable B+ stableSri Lanka 27 Apr 2006 BB- B negative BB- negativeSri Lanka 8 Dec 2005 BB- B stable BB- stableSuriname 20 Oct 2009 B - positive B+ positiveSuriname 18 Jun 2004 B - stable B+ stableSweden 8 Mar 2004 AAA F1+ stable AAA stableSweden 4 Mar 2002 AA+ F1+ stable AAA stableSweden 18 Jul 2001 AA F1+ positive AAA positiveSweden 21 Sep 2000 AA F1+ stable AAA stableSweden 27 Jan 1999 AA F1+ - AAA -Sweden 26 Oct 1995 AA- F1+ - AAA -Sweden 22 Dec 1994 AA- - - - -Sweden 10 Aug 1994 AA - - - -Switzerland 21 Sep 2000 AAA F1+ stable AAA stableSwitzerland 26 Oct 1995 AAA F1+ - AAA -Switzerland 10 Aug 1994 AAA - - - -Taiwan 18 Jan 2009 A+ F1 stable AA negativeTaiwan 19 Nov 2001 A+ F1 stable AA stableThailand 19 Apr 2010 BBB F3 stable A- negativeThailand 16 Apr 2009 BBB F3 stable A- stableThailand 1 Dec 2008 BBB+ F2 negative A negativeThailand 22 Oct 2006 BBB+ F2 stable A stableThailand 19 Sep 2006 BBB+ F2 Rating Watch negative A Rating Watch negativeThailand 10 May 2005 BBB+ F2 stable A stableThailand 3 Mar 2004 BBB F3 positive A- positiveThailand 3 Sep 2003 BBB F3 stable A- stableThailand 10 Oct 2002 BBB- F3 positive BBB+ positiveThailand 21 Sep 2000 BBB- F3 stable BBB+ stableThailand 24 Jun 1999 BBB- F3 - BBB+ -Thailand 26 Apr 1999 BB+ B Rating Watch positive BBB+ Rating Watch positiveThailand 14 May 1998 BB+ B - BBB+ -Tunisia 2 Mar 2011 BBB- F3 negative BBB negativeTunisia 14 Jan 2011 BBB F2 Rating Watch negative A- Rating Watch negativeTunisia 24 May 2001 BBB F2 stable A- stableTunisia 21 Sep 2000 BBB- F3 positive A- positive

Foreign currency rating Local currency ratingTunisia 26 Sep 1996 BBB- F3 - A- -Tunisia 26 Oct 1995 BBB- F3 - - -Tunisia 14 Sep 1995 BBB- - - - -Turkey 24 Nov 2010 BB+ B positive BB+ positiveTurkey 3 Dec 2009 BB+ B stable BB+ stableTurkey 27 Oct 2009 BB- B Rating Watch positive BB Rating Watch positiveTurkey 12 Dec 2007 BB- B stable BB stableTurkey 9 May 2007 BB- B stable BB- stableTurkey 6 Dec 2005 BB- B positive BB- positiveTurkey 13 Jan 2005 BB- B stable BB- stableTurkey 25 Aug 2004 B+ B positive B+ positiveTurkey 9 Feb 2004 B+ B stable B+ stableTurkey 25 Sep 2003 B B positive B positiveTurkey 6 Aug 2003 B- B positive B- positiveTurkey 25 Mar 2003 B- B negative B- negativeTurkey 5 Feb 2002 B B stable B stableTurkey 2 Aug 2001 B B negative B- negativeTurkey 2 Apr 2001 B+ B Rating Watch negative B Rating Watch negativeTurkey 22 Feb 2001 BB- B Rating Watch negative B+ Rating Watch negativeTurkey 21 Sep 2000 BB- B stable BB stableTurkey 27 Apr 2000 BB- B - BB -Turkey 10 Apr 2000 B+ B Rating Watch positive - Rating Watch positiveTurkey 20 Dec 1996 B+ B - - -Turkey 29 Jul 1996 BB- B Rating Watch negative - Rating Watch negativeTurkey 26 Oct 1995 BB- B - - -Turkey 26 Sep 1995 BB- - - - -Turkey 10 Aug 1994 B - - - -Turkmenistan 25 Feb 2005 Rating Withdrawn - - - -Turkmenistan 18 May 2001 CCC- C - - -Turkmenistan 21 Sep 2000 B- B stable - stableTurkmenistan 29 Jan 1999 B- B - - -Turkmenistan 7 Jan 1998 B B - - -Uganda 19 Aug 2009 B B positive B positiveUganda 17 Mar 2005 B B stable B stableUkraine 6 Jul 2010 B B stable B stableUkraine 17 Mar 2010 B- B stable B- stableUkraine 12 Nov 2009 B- B negative B- negativeUkraine 13 Feb 2009 B B negative B negativeUkraine 17 Oct 2008 B+ B negative B+ negativeUkraine 25 Sep 2008 BB- B negative BB- negativeUkraine 14 May 2008 BB- B stable BB- stableUkraine 25 Oct 2006 BB- B positive BB- positiveUkraine 12 Jan 2006 BB- B stable BB- stableUkraine 8 Jun 2005 BB- B positive BB- positiveUkraine 21 Jan 2005 BB- B stable BB- stableUkraine 25 Jun 2003 B+ B stable B+ stableUkraine 26 Mar 2002 B B stable B stableUkraine 13 Jun 2001 B- B stable B- stableU.K. 21 Sep 2000 AAA F1+ stable AAA stableU.K. 26 Oct 1995 AAA F1+ - AAA -U.K. 10 Aug 1994 AAA - - - -U.S.A. 21 Sep 2000 AAA F1+ stable AAA stableU.S.A. 1 Apr 1996 AAA F1+ - AAA -U.S.A. 13 Nov 1995 AAA F1+ Rating Watch negative AAA Rating Watch negativeU.S.A. 26 Oct 1995 AAA F1+ - AAA -U.S.A. 10 Aug 1994 AAA - - - -Uruguay 27 Jul 2010 BB B positive BB+ positiveUruguay 13 Jul 2009 BB- B positive BB positiveUruguay 27 Jul 2007 BB- B stable BB stableUruguay 24 May 2006 B+ B positive BB- positiveUruguay 7 Mar 2005 B+ B stable BB- stableUruguay 29 Mar 2004 B B stable B+ stableUruguay 17 Jun 2003 B- B stable B stableUruguay 16 May 2003 DDD D - B -Uruguay 10 Apr 2003 C C - CCC- -Uruguay 12 Mar 2003 CCC- C negative CCC- negativeUruguay 7 Jan 2003 B- B negative B negativeUruguay 30 Jul 2002 B B negative B negativeUruguay 28 May 2002 B+ B Rating Watch negative BB- Rating Watch negativeUruguay 13 Mar 2002 BB+ B negative BBB- negativeUruguay 23 Jul 2001 BBB- F3 negative BBB+ negativeUruguay 21 Sep 2000 BBB- F3 stable BBB+ stableUruguay 19 May 2000 BBB- F3 - BBB+ -Uruguay 23 Jan 1997 BBB- F3 - - -Uruguay 14 Jan 1997 BB+ B Rating Watch positive - Rating Watch positiveUruguay 26 Oct 1995 BB+ B - - -Uruguay 18 Jan 1995 BB+ - - - -Venezuela 15 Dec 2008 B+ B stable B+ stableVenezuela 18 Oct 2007 BB- B negative BB- negativeVenezuela 14 Nov 2005 BB- B stable BB- stable

Foreign currency rating Local currency ratingVenezuela 20 Sep 2004 B+ B stable B+ stableVenezuela 23 Jun 2003 B- B stable B- stableVenezuela 10 Jan 2003 CCC+ C negative CCC negativeVenezuela 28 Jun 2002 B B negative B- negativeVenezuela 6 Feb 2002 B+ B negative B negativeVenezuela 18 Dec 2001 BB- B negative B+ negativeVenezuela 21 Sep 2000 BB- B stable B+ stableVenezuela 15 May 2000 BB- B - B+ -Venezuela 2 Sep 1999 BB- B Rating Watch negative - Rating Watch negativeVenezuela 15 Sep 1997 BB- B - - -Vietnam 28 Jul 2010 B+ B stable B+ stableVietnam 11 Mar 2010 BB- B Rating Watch negative BB- Rating Watch negativeVietnam 29 Jun 2009 BB- B stable BB- stableVietnam 29 May 2008 BB- B negative BB negativeVietnam 6 Nov 2003 BB- B stable BB stableVietnam 11 Jun 2002 BB- B positive BB positiveZambia 2 Mar 2011 B+ B stable B+ stable

2) DCR history kept for the 4 sovereigns not rated by Fitch IBCA prior to the merger with Duff & Phelps and affirmed 19/5/00 by Fitch. 3) Outlooks assigned to all ratings, and used as a rating action starting from 21/9/00.4) Separate and distinct FC and LC Rating Outlooks used, allowing them to differ starting from 1/10/03.5) Rating affirmations are not listed, but are available from FitchResearch

1) blue = positive rating action, red = negative rating action.

Copyright © 2010 by Fitch, Inc., Fitch Ratings Ltd. and its subsidiaries. One State Street Plaza, NY, NY 10004.Telephone: 1-800-753-4824, (212) 908-0500. Fax: (212) 480-4435. Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved. All of the information contained herein is based on information obtained from issuers, other obligors, underwriters, and other sources which Fitch believes to be reliable. Fitch does not audit or verify the truth or accuracy of any such information. As a result, the information in this report is provided “as is” without any representation or warranty of any kind. A Fitch rating is an opinion as to the creditworthiness of a security. The rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in the offer or sale of any security. A report providing a Fitch rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. Ratings may be changed, suspended, or withdrawn at anytime for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort. Ratings are not a recommendation to buy, sell, or hold any security. Ratings do not comment on the adequacy of market price, the suitability of any security for a particular investor, or the tax-exempt nature or taxability of payments made in respect to any security. Fitch receives fees from issuers, insurers, guarantors, other obligors, and underwriters for rating securities. Such fees generally vary from US$1,000 to US$750,000 (or the applicable currency equivalent) per issue. In certain cases, Fitch will rate all or a number of issues issued by a particular issuer, or insured or guaranteed by a particular insurer or guarantor, for a single annual fee. Such fees are expected to vary from US$10,000 to US$1,500,000 (or the applicable currency equivalent). The assignment, publication, or dissemination of a rating by Fitch shall not constitute a consent by Fitch to use its name as an expert in connection with any registration statement filed under the United States securities laws, the Financial Services and Markets Act of 2000 of Great Britain, or the securities laws of any particular jurisdiction. Due to the relative efficiency of electronic publishing and distribution, Fitch research may be available to electronic subscribers up to three days earlier than to print subscribers.