3. Credit risk & sovereign debt Several countries have recently been subject to a heightened scrutiny over their sovereign debt situation over the last years. Some of these include for example: Argentina, Colombia, Ghana, Italy, Lebanon, South Africa, and Turkey. . Select two countries from this list (or other ones in a similar sovereign debt situation) and report the corresponding credit rating(s) and 5-year CDS spreads. . List 2-3 key factors that have recently impacted (positively or negatively) their sovereign risk. Explain. . Determine and compare their debt/gdp ratios. Given markets' short/medium-term ex- pectations about the growth rate and borrowing costs of these countries, would you expect their debt/gdp ratio to increase or decrease? What factors/policies may poten- tially improve it or deteriorate it further? . Provide a trading recommendation in light of your analysis. This is an open question. Multiple answers are possible (e.g., there are different data sources and ways to measure government debt, with possibly conflicting numbers). You are welcome to use any source of information you like and make assumptions, if needed. Please be concise and focus on the key arguments, and make sure to cite your references