The iBoxx USD Asia-Pacific Sovereigns Rated is designed to measure the performance of USD-denominated sovereign debt issued by central governments in Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, Macao, Malaysia, Maldives, Mongolia, New Zealand, Pakistan, Papua New Guinea, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam. The index includes bonds with a minimum initial time to maturity of 18 months at issuance and a minimum amount outstanding of USD 250 million. Issuer countries must have a long-term foreign debt rating and bonds must be clearable through Clearstream, Euroclear or Hong Kong CMU, and issuers must be from countries not in default on their external debt and not under EU or U.S. financial sanctions, except when sanctions apply only to specific individuals or don't affect government funding.