FITCH Ratings, an international agency, revised its outlook on the long-term foreign currency ratings of seven EU accession countries, including Slovakia, from stable to positive, news wire SITA reported.
Slovakia currently holds a BBB rating. The other countries affected are Cyprus (A+), Latvia (BBB+), Lithuania (BBB), Malta (A), Poland (BBB+), and Slovenia (A+).
Fitch expects the incoming members of the EU to have sovereign credit ratings two to three notches above their current level when they eventually adopt the euro, given that full membership to the euro area reduces the risks to sovereign creditworthiness caused by imbalances in the balance of payments and external shocks.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
5. Nov 2003 at 9:38