Euromoney’s latest Country Risk Survey shows a gradual rebalancing of risk scores this year, as the aftershocks of the global banking and sovereign debt crises wear off, political risks tied to the European electoral cycle fade, and capital access improves for EMs.

The country’s longer-term credentials are unchanged.

A year ago, the UK had stable government, a strong economy and a predictable trading relationship – now the opportunities are outweighed by the risks.

The decision to isolate Doha for its links to Islamist terrorism has plunged the region into turmoil and sent its creditworthiness into a spin.

It won the Euros, it won Eurovision – now it is time to win back its lost investment grades.

Experts are beginning to feel more confident about Russia’s prospects, and its credit ratings will ultimately reflect this.

The decision by Moody’s to lower its sovereign rating on China was flagged-up in ECR’s crowd-sourcing survey more than a year ago, and it will mean higher funding costs in the offshore market.

Confidence in the oil producer is wavering as a bank crisis unfolds.

Euromoney’s country risk survey shows political risk rising in 64 countries this year. The march of populism is a key factor investors must consider before chasing tempting returns, but there are many others to guard against.

A stronger yen-won exchange rate underlines Japan’s perception of safety with Seoul now plunged into a crisis, awaiting elections and wary of tensions escalating on the Korean peninsula.

An improving eurozone economy is failing to provide investors with encouragement about Italy’s prospects as it comes back into focus after the French elections.

Theresa May’s decision to call a snap general election to increase her Conservative government’s majority has generated a positive reaction in the markets, but does not guarantee a more favourable investor climate.

Euromoney’s country risk survey shows disparate risk trends emerging in Q1 2017 as leading economists and political experts reassess their views on asset safety in the wake of changing commodity prices, currencies and populist political trends.

Mexico is considered the most attractive emerging market (EM) by Bloomberg, but is not the safest according to Euromoney’s country risk metrics.

The borrower’s gradually improving risk profile could see it overtake Brazil and Turkey before too long.

In Q4 2016, Australia’s ECR score dipped by 0.4 points, dropping two places to 12th in the country risk rankings. Political challenges, lower economic forecasts than expected and a fall in Australia’s debt indicator score all contributed to the decline. As the end of the first quarter of the year approaches, ECR asks two experts what lies in store for 2017.

Egypt’s fall from grace is one of the more noteworthy of recent years.

Euromoney’s survey experts continue to downgrade the borrower, disagreeing with the president’s claims there is no justification for it.