3. What is the most significant difference to consider when assessing the credit worthiness of a country rather than a company?
　　A.      The country’s willingness and its ability to pay must be analyzed.
　　B.       Financial data on a country is often available only with long lags.
　　C.       It is more costly to do due diligence on a country rather than on a company.
　　D.      A country is often unwilling to disclose sensitive financial information.
　　3. Correct answer: A
　　Countries cannot be forced into bankruptcy. There is no enforcement mechanism for payment to creditors such as for private companies. Recent history has shown that a country can simply decide to renege on its debt. So, willingness to pay is a major factor in assessing the creditworthiness of a country.