The aim of the study was to evaluate some of the factors, which are often thought about as causes of the sovereign default and to find out, if there are other factors influencing it. To this end, methods of analysis, comparison and deduction are used.. Analysed countries are such, with recent history of default. Using chosen methods, it was found out, that some of the factors, which are evaluated by rating agencies and international organizations, do not have influence on default likelihood. On the contrary, that probability is influenced by some other factors, which are not discussed so often.