Approved countries for investments                                                   ANNEX C

This list is based on those countries which have sovereign ratings of AA- or higher, (we show the lowest rating from Fitch, Moody’s and S&P) and also, (except - at the time of writing - for Hong Kong, Norway and Luxembourg), have banks operating in sterling markets which have credit ratings of green or above in the Link credit worthiness service.

This list is as at 31/12/23

Based on lowest available rating

AAA                    

· Australia

· Denmark

· Germany

· Netherlands

· Norway

· Singapore

· Sweden

· Switzerland

AA+

· Canada  

· Finland

· U.S.A.

AA

AA-

· Belgium

· France

· U.K