Reconstruction Rating Model of Sovereign Debt by Logical Analysis of Data

Table 1

Fitch ranking system and descriptions (source: [6]).

#	Description	Fitch rating scale
1	(Highest rank): the safest, least risky investments	AAA
2	(Above average): safer and less risky	AAP
3		AA
4		AAM
5	(Average): average risk and safety	AP
6		A
7		AM
8	(Slightly below average): slightly risky and less safe	BBBP
9		BBB
10		BBBM
11	(Well below average): riskier and less safe	BBP
12		BB
13		BBM
14	(Lowest): the riskiest and least safe	BP
15		B
16		BM