20180102-法国巴黎银行-2018_CEEMEA_Sovereign_Rating_Review_Schedule_8页_272kb
报告摘要
EM Strategy Desknote Summary
Core Content
This document outlines the 2018 sovereign credit rating review schedules for various countries in the CEEMEA (Central and Eastern Europe, the Middle East, and Eastern Europe) region, as provided by three major rating agencies: Moody's, S&P, and Fitch. It also includes a list of Emerging Markets Strategy contacts within BNP Paribas, along with legal notices and disclaimers regarding the use and interpretation of the information provided.
Main Rating Review Schedules
Moody's
- Abu Dhabi: Aa2, 1st review: 12-Jan, 2nd review: 08-Jun
- Albania: B1, 1st review: 16-Mar, 2nd review: 07-Sep
- Angola: B2, 1st review: 09-Feb, 2nd review: 10-Aug
- Armenia: B1, 1st review: 23-Feb, 2nd review: 21-Sep
- Azerbaijan: Ba2, 1st review: 26-Jan, 2nd review: 27-Jul
- Bahrain: B1 neg (u), 1st review: 20-Apr, 2nd review: 17-Aug
- Bosnia and Herz.: B3, 1st review: 16-Feb, 2nd review: 10-Aug
- Botswana: A2, 1st review: 27-Apr, 2nd review: 09-Nov
- Bulgaria: Baa2, 1st review: 06-Apr, 2nd review: 28-Sep
- Congo, Rep: Caa2 neg, 1st review: 23-Mar, 2nd review: 21-Sep
- Croatia: Ba2, 1st review: 23-Feb, 2nd review: 17-Aug
- Czech Republic: A1, 1st review: 20-Apr, 2nd review: 12-Oct
- Egypt: B3, 1st review: 16-Feb, 2nd review: 17-Aug
- Estonia: A1, 1st review: 26-Jan, 2nd review: 20-Jul
- Ethiopia: B1, 1st review: 23-Feb, 2nd review: 21-Sep
- Gabon: B3 neg, 1st review: 06-Apr, 2nd review: 05-Oct
- Georgia: Ba2, 1st review: 04-May, 2nd review: 02-Nov
- Ghana: B3, 1st review: 23-Mar, 2nd review: 14-Sep
- Hungary: Baa3, 1st review: 01-Jun, 2nd review: 23-Nov
- Kazakhstan: Baa3, 1st review: 09-Mar, 2nd review: 07-Sep
- Kenya: B1, 1st review: 23-Mar, 2nd review: 21-Sep
- Kuwait: Aa2, 1st review: 08-Jun, 2nd review: 14-Dec
- Latvia: A3, 1st review: 09-Feb, 2nd review: 03-Aug
- Lebanon: B3, 1st review: 16-Feb, 2nd review: 17-Aug
- Lithuania: A3, 1st review: 16-Feb, 2nd review: 10-Aug
- Macedonia: NR, 1st review: 16-Mar, 2nd review: 20-Jul
- Montenegro: B1, 1st review: 30-Mar, 2nd review: 21-Sep
- Morocco: Ba1 pos, 1st review: 06-Apr, 2nd review: 05-Oct
- Mozambique: Caa3 neg, 1st review: 02-Feb, 2nd review: 03-Aug
- Namibia: Ba1 neg, 1st review: 18-May, 2nd review: 07-Dec
- Nigeria: B2, 1st review: 23-Mar, 2nd review: 21-Sep
- Oman: Baa2 neg, 1st review: 16-Mar, 2nd review: 16-Nov
- Poland: A2, 1st review: 23-Mar, 2nd review: 14-Sep
- Qatar: A1, 1st review: 13-Apr, 2nd review: 12-Oct
- Ras Al Khaimah: NR, 1st review: 19-Jan, 2nd review: 20-Jul
- Romania: Baa3, 1st review: 02-Mar, 2nd review: 24-Aug
- Russia: Ba1, 1st review: 23-Feb, 2nd review: 17-Aug
- Rwanda: B2, 1st review: 16-Feb, 2nd review: 10-Aug
- Saudi Arabia: A1, 1st review: 12-Jan, 2nd review: 13-Jul
- Senegal: Ba3, 1st review: 15-Jun, 2nd review: 14-Dec
- Serbia: Ba3, 1st review: 09-Mar, 2nd review: 14-Sep
- Sharjah: A3, 1st review: 19-Jan, 2nd review: 20-Jul
- Slovakia: A2 pos, 1st review: 09-Mar, 2nd review: 03-Aug
- Slovenia: BB pos, 1st review: 23-Mar, 2nd review: 21-Sep
- South Africa: Baa3 neg, 1st review: 23-Mar, 2nd review: 25-May
- Uganda: B3, 1st review: 23-Mar, 2nd review: 21-Sep
- Ukraine: Caa2 pos, 1st review: 16-Mar, 2nd review: 19-Oct
- Zambia: Ba1 neg, 1st review: 26-Jan, 2nd review: 27-Jul
S&P
- Abu Dhabi: AA, 1st review: 12-Jan, 2nd review: 08-Jun
- Albania: B+, 1st review: 02-Feb, 2nd review: 03-Aug
- Angola: B-, 1st review: 09-Feb, 2nd review: 10-Aug
- Armenia: NR, 1st review: 15-Jun, 2nd review: 30-Nov
- Azerbaijan: BB+ neg, 1st review: 26-Jan, 2nd review: 27-Jul
- Bahrain: B+, 1st review: 01-Jun, 2nd review: 30-Nov
- Bosnia and Herz.: B, 1st review: 09-Mar, 2nd review: 07-Sep
- Botswana: A-, 1st review: 27-Apr, 2nd review: 26-Oct
- Bulgaria: BBB-, 1st review: 01-Jun, 2nd review: 30-Nov
- Congo, Rep: SD, 1st review: 23-Mar, 2nd review: 21-Sep
- Croatia: BB pos, 1st review: 23-Mar, 2nd review: 21-Sep
- Czech Republic: AA-, 1st review: 19-Jan, 2nd review: 20-Jul
- Egypt: B- pos, 1st review: 11-May, 2nd review: 09-Nov
- Estonia: AA-, 1st review: 08-Jun, 2nd review: 07-Dec
- Ethiopia: B, 1st review: 13-Apr, 2nd review: 12-Oct
- Gabon: NR, 1st review: 06-Apr, 2nd review: 05-Oct
- Georgia: BB-, 1st review: 04-May, 2nd review: 02-Nov
- Ghana: B- pos, 1st review: 23-Mar, 2nd review: 14-Sep
- Hungary: BBB- pos, 1st review: 16-Feb, 2nd review: 17-Aug
- Kazakhstan: BBB-, 1st review: 09-Mar, 2nd review: 07-Sep
- Kenya: B+, 1st review: 23-Mar, 2nd review: 21-Sep
- Kuwait: AA, 1st review: 02-Feb, 2nd review: 20-Jul
- Latvia: A- pos, 1st review: 23-Mar, 2nd review: 21-Sep
- Lebanon: B-, 1st review: 02-Mar, 2nd review: 31-Aug
- Lithuania: A- pos, 1st review: 02-Mar, 2nd review: 31-Aug
- Macedonia: BB-, 1st review: 16-Mar, 2nd review: 14-Sep
- Montenegro: B+, 1st review: 16-Mar, 2nd review: 14-Sep
- Morocco: BBB-, 1st review: 06-Apr, 2nd review: 05-Oct
- Mozambique: SD, 1st review: 02-Feb, 2nd review: 03-Aug
- Namibia: BB+, 1st review: 18-May, 2nd review: 07-Dec
- Nigeria: B, 1st review: 16-Mar, 2nd review: 14-Sep
- Oman: BB, 1st review: 11-May, 2nd review: 09-Nov
- Poland: BBB+, 1st review: 13-Apr, 2nd review: 12-Oct
- Qatar: AA- neg, 1st review: 09-Feb, 2nd review: 27-Jul, 3rd review: 07-Dec
- Ras Al Khaimah: A, 1st review: 19-Jan, 2nd review: 20-Jul, 3rd review: 30-Nov
- Romania: BBB-, 1st review: 02-Mar, 2nd review: 28-Sep
- Russia: BB+ pos, 1st review: 23-Feb, 2nd review: 20-Jul
- Rwanda: B, 1st review: 16-Feb, 2nd review: 10-Aug
- Saudi Arabia: A- (u), 1st review: 06-Apr, 2nd review: 05-Oct
- Senegal: B+, 1st review: 15-Jun, 2nd review: 14-Dec
- Serbia: BB, 1st review: 09-Mar, 2nd review: 14-Sep
- Sharjah: BBB+, 1st review: 19-Jan, 2nd review: 20-Jul, 3rd review: 30-Nov
- Slovakia: A+ pos, 1st review: 09-Mar, 2nd review: 03-Aug
- Slovenia: A+, 1st review: 26-Jan, 2nd review: 27-Jul
- South Africa: BB, 1st review: 25-May, 2nd review: 23-Nov
- Uganda: B, 1st review: 23-Mar, 2nd review: 21-Sep
- Ukraine: B-, 1st review: 20-Apr, 2nd review: 19-Oct
- Zambia: B, 1st review: 23-Feb, 2nd review: 24-Aug
Fitch
- Abu Dhabi: AA, 1st review: 12-Jan, 2nd review: 06-Jul
- Albania: NR, 1st review: 15-Jun, 2nd review: 30-Nov
- Angola: B neg, 1st review: 09-Feb, 2nd review: 10-Aug
- Armenia: B+ pos, 1st review: 15-Jun, 2nd review: 30-Nov
- Azerbaijan: BB+ neg, 1st review: 02-Feb, 2nd review: 27-Jul
- Bahrain: BB+ neg, 1st review: 01-Jun, 2nd review: 30-Nov
- Bosnia and Herz.: NR, 1st review: 16-Feb, 2nd review: 10-Aug
- Botswana: NR, 1st review: 27-Apr, 2nd review: 26-Oct
- Bulgaria: BBB, 1st review: 01-Jun, 2nd review: 16-Nov
- Congo, Rep: CC, 1st review: 23-Mar, 2nd review: 21-Sep
- Croatia: BB, 1st review: 12-Jan, 2nd review: 06-Jul, 3rd review: 07-Dec
- Czech Republic: A+ pos, 1st review: 09-Feb, 2nd review: 03-Aug
- Egypt: B, 1st review: 16-Feb, 2nd review: 10-Aug
- Estonia: A+ pos, 1st review: 04-May, 2nd review: 05-Oct
- Ethiopia: B, 1st review: 23-Mar, 2nd review: 21-Sep
- Gabon: B neg, 1st review: 06-Apr, 2nd review: 05-Oct
- Georgia: BB-, 1st review: 16-Mar, 2nd review: 24-Aug
- Ghana: B, 1st review: 23-Mar, 2nd review: 21-Sep
- Hungary: BBB- pos, 1st review: 09-Mar, 2nd review: 17-Aug
- Kazakhstan: BBB, 1st review: 13-Apr, 2nd review: 28-Sep
- Kenya: B+, 1st review: 23-Mar, 2nd review: 21-Sep
- Kuwait: AA, 1st review: 02-Feb, 2nd review: 20-Jul
- Latvia: A-, 1st review: 27-Apr, 2nd review: 26-Oct
- Lebanon: B-, 1st review: 02-Mar, 2nd review: 31-Aug
- Lithuania: A-, 1st review: 16-Feb, 2nd review: 10-Aug
- Macedonia: BB neg, 1st review: 02-Feb, 2nd review: 20-Jul
- Montenegro: NR, 1st review: 30-Mar, 2nd review: 21-Sep
- Morocco: BBB-, 1st review: 06-Apr, 2nd review: 05-Oct
- Mozambique: RD, 1st review: 23-Mar, 2nd review: 21-Sep
- Namibia: BB+, 1st review: 18-May, 2nd review: 07-Dec
- Nigeria: B+, 1st review: 04-May, 2nd review: 02-Nov
- Oman: BB, 1st review: 11-May, 2nd review: 09-Nov
- Poland: BBB-, 1st review: 13-Apr, 2nd review: 12-Oct
- Qatar: AA- neg, 1st review: 12-Jan, 2nd review: 13-Jul, 3rd review: 07-Dec
- Ras Al Khaimah: A, 1st review: 19-Jan, 2nd review: 20-Jul, 3rd review: 30-Nov
- Romania: BBB-, 1st review: 12-Jan, 2nd review: 06-Jul, 3rd review: 16-Nov
- Russia: BBB- pos, 1st review: 23-Feb, 2nd review: 17-Aug
- Rwanda: B, 1st review: 16-Feb, 2nd review: 10-Aug
- Saudi Arabia: A+, 1st review: 06-Apr, 2nd review: 05-Oct
- Senegal: Ba3, 1st review: 15-Jun, 2nd review: 14-Dec
- Serbia: BB, 1st review: 15-Jun, 2nd review: 09-Nov
- Sharjah: NR, 1st review: 19-Jan, 2nd review: 20-Jul, 3rd review: 30-Nov
- Slovakia: A+, 1st review: 02-Feb, 2nd review: 27-Jul
- Slovenia: A-, 1st review: 23-Feb, 2nd review: 10-Aug
- South Africa: BB+, 1st review: 23-Mar, 2nd review: 25-May
- Uganda: B+, 1st review: 04-May, 2nd review: 02-Nov
- Ukraine: B-, 1st review: 20-Apr, 2nd review: 19-Oct
- Zambia: B+, 1st review: 02-Mar, 2nd review: 27-Jul
Key Information
- Foreign Currency Ratings (FC)*: These are the primary ratings for external debt, and are listed in the document.
- Unsolicited Ratings (u): Indicated by "(u)" and may not have been requested by the issuer.
- Out-of-schedule rating changes: Possible if credit conditions change or the agencies' views shift.
- Outlook Colors: Green indicates a positive outlook, red indicates a negative outlook.
- Legal Disclaimer: The document is non-independent research and may be subject to conflicts of interest. It is a marketing communication and not investment research.
- No Reliance: Recipients are not to rely on the document as an authoritative source or substitute for their own judgment.
- No Guarantee of Accuracy: The information and opinions are based on public sources and may not be independently verified.
- Indicative Pricing: The prices and yields provided are for informational purposes and do not represent actual transaction terms.
Strategy Contacts
| Name | Role | Location | Phone | |
|---|---|---|---|---|
| Wike Groenenberg | Head of Emerging Markets Research, CEEMEA & APAC | London | 44 20 7595 8746 | wike.groenenberg@uk.bnpparibas.com |
| Marcelo Carvalho | Head of Emerging Markets Research, Latam | Sao Paulo | 55 11 3841 3418 | marcelo.carvalho@br.bnpparibas.com |
| Sai Ulluri | FX & IR CEEMEA Strategist | London | 44 20 7595 1872 | sai.ulluri@uk.bnpparibas.com |
| Piotr Chwieczak | FX & IR CEEMEA Strategist | London | 44 20 7595 8715 | piotr.chwieczak@uk.bnpparibas.com |
| Erkin Isik, CFA | FX & IR CEEMEA Strategist | Istanbul | 90 (216) 635 2987 | erkin.isik@teb.com.tr |
| Mirza Baig | Head of FX & IR Asia Strategy | Singapore | 65 6210 3262 | mirza.s.baig@asia.bnpparibas.com |
| Altaz Dagha | AU/NZ IR Strategist | Singapore | 65 6210 4994 | altaz.dagha@asia.bnpparibas.com |
| Dawn Kwa | Asia Graduate | Singapore | 65 6210 3263 | dawn.kwa@asia.bnpparibas.com |
| Kun Shan | China Strategist | Shanghai | 86 21 2896 2773 | kun.shan@asia.bnpparibas.com |
| Tianhe Ji | China Strategist | Beijing | 86 10 6535 0836 | tianhe.ji@asia.bnpparibas.com |
| Gabriel Gersztein | Head FX & IR Latam Strategy | Sao Paulo | 55 11 3841 3421 | gabriel.gersztein@br.bnpparibas.com |
| Samuel Castro | FX & IR Latam Strategist | Sao Paulo | 55 11 3841 3492 | samuel.castro@br.bnpparibas.com |
| Gustavo Mendonca | FX & IR Latam Strategist | Sao Paulo | 55 11 3841 3445 | gustavo.mendonca@br.bnpparibas.com |
Production and Distribution
- Barbara Consuelo: Foreign Exchange, London. Tel: 44 20 7595 8486, Email: Barbara.Consuelo@uk.bnpparibas.com
- Amanda Grantham-Hill: London. Tel: 44 20 7595 4107, Email: amanda.grantham-hill@uk.bnpparibas.com
- Anna McLauchlin: London. Tel: 44 20 7595 3754, Email: anna.mclauchlin@uk.bnpparibas.com
- Louise Bylicki: New York. Tel: 1 212 471 6479, Email: louise.bylicki@us.bnpparibas.com
Legal Notice
- The document is non-independent research and not subject to the independence requirements of MiFID.
- It is a marketing communication and not investment research.
- It is not intended to be relied upon for investment decisions.
- No liability is accepted for any loss or damage resulting from reliance on the document.
- BNP Paribas may have financial interests in the issuers or persons mentioned and may engage in transactions inconsistent with the views expressed in the document.
- The information is based on public sources and may not have been independently verified.
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