Moody's upgrades Slovakia's bond ratings

MOODY's Investors Service has upgraded the rating of Slovakia's long-term foreign-currency bonds from A2 to Aa1. The rating outlook was changed from positive to stable.

Moody's said that a new approach to setting its foreign-currency country ceilings for bonds has resulted in upgraded ceilings for 70 countries including Poland, the Czech Republic and Hungary.

Country ceilings already carrying Moody's top rating of Aaa were unaffected by the new methodology, and no country ceiling was downgraded as a result of the revised approach.

The agency's thinking in favour of greater flexibility in the application of country ceilings has reflected the deepening of international capital markets since the 1990s, the SITA news agency wrote.

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