Credit analysis of sovereign nations?

Hoping to get an opinion from someone who might be more familiar with this sector.

Working on a deal where long story short, the credit risk of a sovereign nation is critical for our understanding of how we should approach. I have been tasked with analyzing the country in question, and to present my findings.

After a bit of research I’ve already knocked out the obvious stuff such as credit ratings, debt/gdp, forex reserves, etc. But it doesn’t feel like this really paints enough of a picture. If I had to guess, these numbers require a little more nuance, and I’m guessing there’s far better metrics to look at.

Do we have any credit folks in here that have done sovereign analysis? If so, I’d appreciate any advice.

cheers