BUSINESS BRIEFS

S&P improves Slovakia's rating

STANDARD & Poor's (S&P) improved Slovakia's rating for loans in foreign currency from BBB/A-3 to BBB+/A-2, the state run TASR news agency reported.

The agency also confirmed the country's rating for loans in local currency at the A-/A-2 level with a stable outlook.

S&P loans analyst Kristel Richard said that Slovakia's loan ability could improve in the coming two years if the general cabinet deficit continues to decrease and if there are further economic reforms, for instance in the railway sector.

S&P anticipates that Slovakia will join the eurozone in 2009.

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