IN SHORT

S&P assigns 'A' rating to Slovakia's eurobond

THE STANDARD & Poor's ratings agency announced on March 21 it had assigned an 'A' long-term senior unsecured debt rating for Slovakia's upcoming €1 billion Eurobond issue, which matures in March 2021.

The bond will be issued under Slovakia's new €2 billion Euro Medium Term Note (EMTN) programme, which at the same time was assigned a long-term rating of 'A' and a short-term rating of 'A-1'.

"Slovakia's ratings are supported by rapid progress in public sector reform, strong growth prospects and the prospect of entry into the Eurozone by 2009. The ratings remain constrained by the country's only moderate wealth levels and inefficient social security system," said Standard & Poor's.

The agency praised the fact that public finances continue to improve despite an increase in the general government deficit in 2005 to 4.9 percent of GDP due to costs resulting from EU accession, pension reform and forgiven debts. It also said that Slovakia is making good progress toward joining the Eurozone by 2009, including the country's joining the European Exchange Rate Mechanism in November 2005. Last week, the Fitch ratings agency also assigned Slovakia's upcoming €2 billion bond issue an 'A' rating with a stable outlook.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Fico mirrors stability, but Smer is considering a new election leader

Pellegrini could be Smer's number one in the 2020 parliamentary elections. Some Smer MEPs want a new party leader.

Former PM Robert Fico (left) and his successor Peter Pellegrini (right).

Kirschner: Music has always been the intention

Jana Kirschner has been on the Slovak music scene for more than 20 years.

10 things you need to know about the new parking policy in Bratislava

Foreigners living in Bratislava who are not eligible for permanent residence do not need to worry.

Current parking in Bratislava