Ukraine to Hungary Debt Holders Most at Risk, Goldman Sachs Says - Bloomberg:
"Investors in the debt of Hungary, Argentina and Ukraine will lose most in the event of a default among emerging-market nations, Goldman Sachs Group Inc. said.
The U.S. bank’s model evaluates the size of external debt relative to a country’s economy and gives scores to the strength of 24 nations. Holders of Taiwan, South Korea and Israel government notes are least at risk, London-based analyst Themistoklis Fiotakis wrote in today’s report.
Ukraine suffered rating cuts this year as Russia annexed Crimea in March and separatist unrest escalated while Argentina was downgraded after it devalued the peso in January by the most since 2002. Emerging-market dollar debt has gained 6.9 percent this year after a 6.6 percent drop in 2013 that was the first annual decrease since 2008, JPMorgan Chase & Co. indexes show."
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