EXHIBIT 1 Sovereign Bond Defaults Since 1997 // Venezuela war schon länger nicht dabei....

EXHIBIT 1
Sovereign Bond Defaults Since 1997
Initial Default Date Country (NR=not rated at the time) Sequence of Default Events (DE=Distressed Exchange)
1997 Mongolia (NR) Missed payments
1998 Venezuela Missed payments
Aug-1998 Russia Missed payments, DE, Missed payments, DE, DE
Sep-1998 Ukraine DE, DE, DE, Missed payment, DE, Missed payments, DE
Jul-1999 Pakistan Grace period missed payment, Missed payment, DE
Aug-1999 Ecuador Missed payments, DE
Nov-1999 Turkey (NR) Imposed tax
Mar-2000 Cote d'Ivoire (NR) Grace period missed payments, Missed payment, DE
Nov-2001 Argentina Debt swap, DE, Missed payment, Pesoization, DE, Re-open DE
Jun-2002 Moldova Grace period missed payment, Missed payment, DE
Jan-2003 Paraguay (NR) Missed payments, DE
May-2003 Uruguay DE
Jul-2003 Nicaragua DE, DE
Jul-2003 Dominica (NR) Missed payments, DE
H2-2004 Cameroon (NR) Missed payment, DE
Dec-2004 Grenada (NR) Missed payments, DE
Apr-2005 Dominican Republic Grace period missed payments, DE
Dec-2006 Belize Missed payment, DE
Jul-2008 Seychelles (NR) Missed payments, DE
Dec-2008 Ecuador Missed payments, DE
Feb-2010 Jamaica DE
Jan-2011 Cote d'Ivoire (NR) Missed payment, DE, Developing
Nov-2011 St. Kitts and Nevis (NR) Missed payment, DE, Debt-land swap
Mar-2012 Greece Retroactive insertion of CACs, DE, Developing
Source: Moody’s.
Note: Blue shading denotes defaults starting as distressed exchanges.

http://av.r.ftdata.co.uk/files/2012/09/Sovereign-Default-Series-Investor-Losses-in-Modern-Era-Sovereign-Bond-Restructurings.pdf