Euler Hermes North America

COUNTRY RISK
SCHEDULE
as of July 2020

www.eulerhermes.us
 IRP GRADE Country IRP GRADE Country
COUNTRY COUNTRY
CODE Risk Level CODE Risk Level
A AFGHANISTAN AF D High CANADA CA AA Low
ALBANIA AL D Sensitive CAPE VERDE ISLANDS CV D High
ALGERIA DZ C High CAYMAN ISLANDS KY A Low
AMERICAN SAMOA AS A Low CENTRAL AFRICAN REP CF D High
ANDORRA AD AA Low CHAD TD D High
ANGOLA AO D High CHILE CL BB Medium
ANGUILLA AI BB Low CHINA CN B Medium
ANTARTICA AQ AA Low CHRISTMAS ISLAND CX A Low
ANTIGUA & BARBUDA AG C Sensitive COCOS (KEELING) ISLANDS CC A Low
ARGENTINA AR D High COLOMBIA CO BB Medium
ARMENIA AM D Sensitive COMORO ISLANDS KM D High
ARUBA AW B Low CONGO (Democratic Rep of) CD D High
Aust Pacific Is (see Christmas, Cocos & Norfolk Is) CONGO (People's Rep of) CG D High
AUSTRALIA AU AA Low COOK ISLANDS CK C Sensitive
AUSTRIA AT AA Low COSTA RICA CR BB Medium
AZERBAIJAN AZ D High Côte d'Ivoire (Ivory Coast) CI C Medium
B BAHAMAS BS BB Medium CROATIA HR B Medium
BAHRAIN BH C Sensitive CUBA CU D High
BANGLADESH BD D Sensitive CURACAO CW C Sensitive
BARBADOS BB D High CYPRUS CY B Medium
BELARUS BY D High CZECH REPUBLIC CZ A Medium
BELGIUM BE AA Low D DENMARK DK AA Low
BELIZE BZ D Sensitive DJIBOUTI DJ D High
BENIN BJ C High DOMINICA DM C Sensitive
BERMUDA BM A Low DOMINICAN REPUBLIC DO B Medium
BES Islands Dubai (see U.A.E)
BQ AA Low
(Bonaire, St Eustatius & Saba) E ECUADOR EC C High
BHUTAN BT C Sensitive EGYPT EG C Medium
BOLIVIA BO D High EL SALVADOR SV B Medium
BOSNIA & HERCEGOVINA BA D High EQUATORIAL GUINEA GQ D High
BOTSWANA BW B Low ERITREA ER D High
BOUVET ISLAND BV AA Low ESTONIA EE AA Low
BRAZIL BR B Sensitive ETHIOPIA ET C Sensitive
BRITISH INDIAN OCEAN TERRITORY IO AA Low F FALKLAND ISLANDS FK A Low
British Virgin Islands VG A Low FAROE ISLANDS FO A Low
British Pacific Is (see Pitcairn Is) FIJI FJ D High
BRUNEI BN BB Medium FINLAND FI AA Low
BULGARIA BG B Medium FRANCE (ROP) FR AA Low
BURKINA FASO BF C Sensitive FRENCH GUIANA GF AA Low
Burma (Myanmar) – Exception FRENCH POLYNESIA a
PF BB Low
MM D High
only validated by GRIC
FRENCH SOUTHERN TERRITORY b
TF AA Low
BURUNDI BI D High
G GABON GA D Sensitive
C CAMBODIA KH C Sensitive
GAMBIA GM D Sensitive
CAMEROON CM D Sensitive
GEORGIA GE D High
 IRP GRADE Country IRP GRADE Country
COUNTRY COUNTRY
CODE Risk Level CODE Risk Level
GERMANY (ROP) DE AA Low LITHUANIA LT BB Low
GHANA GH C Sensitive LUXEMBOURG LU AA Low
GIBRALTAR GI A Low M MACAO MO BB Medium
GREECE GR B Medium MACEDONIA, FYR MK C Medium
GREENLAND GL A Low MADAGASCAR MG D Sensitive
GRENADA GD C Sensitive MALAWI MW D Sensitive
GUADELOUPE (includes French St MALAYSIA MY BB Medium
GP AA Low
Martin & St Barthelemy) MALDIVES MV D High
GUAM GU A Low MALI ML D Sensitive
GUATEMALA GT B Medium MALTA MT A Low
GUINEA (Rep of) GN D High MARSHALL ISLANDS MH D High
GUINEA BISSAU (Rep of) GW D High MARTINIQUE MQ AA Low
GUYANA GY C Sensitive MAURITANIA MR D High
H HAITI HT D High MAURITIUS MU BB Medium
HEARD AND MCDONALD IS HM AA Low MAYOTTE YT A Low
HONDURAS HN C Medium MEXICO MX BB Medium
HONG KONG HK BB Sensitive MICRONESIA FM C Sensitive
HUNGARY HU B Medium MOLDOVA MD D High
I ICELAND IS B Medium MONACO MC AA Low
INDIA IN B Sensitive MONGOLIA MN D High
INDONESIA ID B Medium MONTENEGRO ME D High
IRAN (Due to US Trade Embargo) IR D High MONTSERRAT MS BB Low
IRAQ IQ D High MOROCCO MA B Sensitive
IRELAND IE A Medium MOZAMBIQUE MZ D High
ISRAEL IL BB Low MYANMAR (Burma) – Exception
MM D High
ITALY IT A Medium only validated by GRIC
J JAMAICA JM C Medium N NAMIBIA NA C High
JAPAN JP A Medium NAURU NR D High
JORDAN JO B Sensitive NEPAL NP D High
K KAZAKHSTAN KZ D High NETHERLANDS (ROP) NL AA Low
KENYA KE C Sensitive NEW CALEDONIA NC A Low
KIRIBATI KI C Sensitive NEW ZEALAND NZ AA Low
KOREA, DEMO. PEOPLE'S R. (NORTH) KP D High NICARAGUA NI D High
KOREA REPUBLIC OF (SOUTH) KR A Low NIGERIA NG D Sensitive
KUWAIT KW B Low NIGER NE D High
KYRGYZSTAN KG D High NIUE NU B Medium
L LAOS LA D High NORFOLK ISLAND NF A Low
LATVIA LV BB Medium NORTHERN MARIANA ISLANDS MP A Low
Leeward Is (see Anguilla, Montserrat & BVI) NORWAY NO AA Low
LEBANON LB D High O OMAN OM C Sensitive
LESOTHO LS C Sensitive P PAKISTAN PK D High
LIBERIA LR D High PALAU PW C Sensitive
LIBYA LY D High PANAMA PA BB Medium
LIECHTENSTEIN LI AA Low PAPUA NEW GUINEA PG D High
 IRP GRADE Country IRP GRADE Country
COUNTRY COUNTRY
CODE Risk Level CODE Risk Level
PARAGUAY PY B Medium SWAZILAND SZ C Sensitive
PERU PE BB Medium SWEDEN SE AA Low
PHILIPPINES PH B Medium SWITZERLAND CH AA Low
PITCAIRN ISLAND PN A Low SYRIA SY D High
POLAND PL BB Medium T TAJIKISTAN TJ D High
PORTUGAL (inc. Azores & Madeira) c
PT BB Low TAIWAN TW A Medium
PUERTO RICO PR BB Sensitive TANZANIA TZ C Sensitive
Q QATAR QA B Medium TIMOR LESTE TL D High
R REUNION RE AA Low THAILAND TH B Medium
ROMANIA RO B Sensitive TOGO TG D Sensitive
RUSSIA RU C Sensitive TOKELAU TK A Low
RWANDA RW B Medium TONGA TO D High
S SOUTH GEORGIA/SANDWICH IS GS AA Low TRINIDAD & TOBAGO TT B Sensitive
SAMOA WS C Sensitive TUNISIA TN C High
SAN MARINO SM A Medium TURKEY TR C Sensitive
SAO TOME & PRINCIPE ST C Sensitive TURKMENISTAN TM D High
SAUDI ARABIA SA B Medium TURKS & CAICOS TC A Low
SENEGAL SN C Medium TUVALU TV C Sensitive
SERBIA RS C Medium U UNITED ARAB EMIRATES (Abu Dhabi) d
AE BB Medium
SEYCHELLES SC D Sensitive US VIRGIN ISLANDS (St. Thomas,
VI A Low
SIERRA LEONE SL D High St Criox, St Johns)
SINGAPORE SG AA Medium U.S. MINOR OUTLYING ISLANDS UM AA Low
SLOVAKIA SK A Medium U.S. PACIFIC IS (see Nth Mariana Is & US Minor Outlying Is)
e

SLOVENIA SI BB Medium U.S.A. US AA Low

SOLOMON ISLANDS SB D High UGANDA UG C Sensitive
SOMALIA SO D High UKRAINE UA D High
SOUTH AFRICA ZA C Sensitive UNITED KINGDOM (Includes Channel
GB AA Medium
Island, Isle of man & Ascension Is)f
SOUTH SUDAN Republic of SS D High
URUGUAY UY BB Medium
SPAIN (INCLUDING CANARY IS) ES A Low
UZBEKISTAN UZ D High
SRI LANKA LK D High
V VANUATU VU C Sensitive
ST. HELENA SH A Low
VATICAN CITY (HOLY SEE) VA AA Low
ST. KITTS & NEVIS KN C Sensitive
VENEZUELA VE D High
ST. MAARTEN (Dutch Side) SX C Sensitive
VIETNAM VN C Sensitive
ST. LUCIA LC C Sensitive
W WALLIS & FUTUNA WF A Low
ST. PIERRE ET MIQUELON PM A Low
WINWARD IS (see Dominica, St. Lucia, St Vincent & Grenedines)
ST. VINCENT & THE GRENADINES VC C Sensitive
Y YEMEN YE D High
SUDAN SD D High
Yugoslavia (see Serbia & Montenegro)
SURINAM SR D High
Z ZAMBIA ZM D High
SVALBARD & JAN MAYEN SJ A Low
ZIMBABWE ZW D High

(a) The Society Archipelago (Tahiti, Moorea, Maio,Mehitia, Tetiaroa, Raiatea, Tahaa, Huahine, Bora-Bora and
Country Risk Level
Maupiti), the Tuamotu Archipelago (the Gambier Islands), the Austral Islands, the Marquesas Islands 1 = Low Risk
(b) Kerguelen Islands, Saint-Paul Island 2 = Medium Risk
(c) Azores, Madeira
3 = Sensitive Risk
(d) Abu Dhabi, Ajman, Dubai, Fujairah, Ras al Kahimah, Sharjah, Umm-al-Qaiwan
(e) Midway Islands, Wake Islands, Johnston Island, Howland & Bak Islands, 4 = High risk
(f) UK (Includes Channel Island, Isle of man & Ascension Island)