In 2013, Google listed the 20 ccTLDs they treat as generic TLDs. So for example, a .co TLD would not be geotargetted towards Colombia by default, because so many people use .co TLDs not within the region of Colombia.
Well, that section, as to which ccTLDs are treated as generic has been removed from the documentation. Google’s John Mueller responded to Nate Harris who first spotted this saying this does not mean any changes were made to how they handle these ccTLDs or other ccTLDs. He said on Twitter “we’re just working on some documentation changes.”
Here are those tweets:
Forum discussion at Twitter.