The World's Safest and Riskiest Sovereign Debt: Update

Switzerland is a new entry this quarter after engaging in quantitative easing; Portugal has dropped out in the wake of a downgrade by S&P and is now ranked 14^th.
Before you ask, the U.K. is ranked 18^th, behind China (17^th).

Argentina is back in the lead as the world’s top basket case (Ukraine was leading last time)

Implied Ratings are calculated using a proprietary model developed by CMA and fed with CDS pricing data from CMA DataVision.

Source: CMA DataVision Global Sovereign Credit Risk Report Q2-2009

Related:
The World’s Safest Sovereign Debt