Sovereign Risk Monitor April 2010

April 23, 2010

Highest Default Probabilities

Entity Name	Mid Spread	CPD (%)
Argentina	853.47	43.96
Venezuela	818.02	43.61
Greece	633.50	41.10
Pakistan	665.10	36.55
Ukraine	556.02	32.29
Dubai, Emirate of	433.48	26,10
Iraq	379.61	23.69
Iceland	373.72	22.55
Portugal	270.38	20.96
Latvia	333.98	20.85

(CMA Market Data)