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CRUSSIA FOREIGN TRADE PARTNERS. CREDIT RISK OPINION
(on February 12, 2015)

ONDD * E+H **
Political risk (1 low - 7 high)
Country 
(The biggest partners of Russia by foreign trade)
Short term risk Medium/
long term risk
Special  transaction risk Commercial risk (A - low, C - high) Country Grade Risk Level
 China 1 2 1 C B Low Risk
 Netherlands 1 1 1 B AA Low Riskk
 Germany 1 1 1 A AA1 Low Risk
 Ukraine 7 7 7 C D High Risk
 Italy 1 1 1 C A Medium Risk
 Belarus 7 7 7 C D High Risk
 Turkey 3 4 3 C C3 Sensitive Risk
 Japan 1 1 1 B A Low Risk
 USA 1 1 1 B A Low Risk
 Poland 1 2 1 A BB Low Risk
 Korea (South) 1 1 1 A BB Low Risk
 France 1 1 1 B AA Low Risk
 UK 1 1 1 A AA Low Risk
 Kazakhstan 2 5 3 C C Sensitive Risk
 Finland 1 1 1 B AA Medium Risk
 Switzerland 1 1 1 A AA1 Low Risk
 Belgium 1 1 1 B AA Medium Risk
 Czech Republic 1 1 1 B BB Medium Risk
 Latvia 1 2 1 A BB Low Risk
 Spain 1 1 1 C A Medium Risk
 Slovak Republic 1 1 1 A A Low Risk
 Kyrgyzstan 4 7 5 C D High Risk
 Tajikistan 6 7 6 C D High Risk
 RUSSIA 4 4 4 C C4 High Risk

*  Delcredere Ducroire credit insurance company data (www.delcredereducroire.be)
** Euler Hermes credit insurance company data (www.eulerhermes.com/)
   
Country Risk Outlook 4th Quoter 2014
IGK AG Germany
Tel. +371 67186999
office@igk-group.com

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