Greece has fallen out of a list of the top ten riskiest sovereign credits after restructuring its debt, but a number of other sovereigns are still at risk, new research has revealed.
Findings from credit information specialist CMA, covering the first quarter of the year to 29 March, shows Cyprus is now the most risky sovereign credit in the world, with the highest probability of default. Cyprus, a new entry in the rankings, has replaced Greece which is no longer on the list following its debt restructure, while Portugal remains in second place. Spain is a new entry in tenth place on the list, following renewed fears the country will need a bailout from the IMF and its eurozone neighbours. This week the yields on its 10-year bonds have jumped above 6% for the first...
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