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Coface’s world index of country risk is continuing to improve, although at a less marked rate than previous months. This more moderate improvement (-1%) reflects a stabilisation of the business climate and company payment behavior. There has been little change in the risk level in industrialised countries, with a higher risk index for Western Europe than for North America or Japan.

For emerging countries, the moderate improvement in the index (down 2%) essentially reflects the upgrade of Thailand’s rating (from A3 to A2) and the positive watchlisted ratings for South Africa (A4), India (A4), and Poland (A4).

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