Standard & Poor, the international ratings agency, has strengthened Slovakia's long-term foreign currency sovereign credit rating from BBB+ to A-. It also says the outlook is now positive, not just stable.
"The upgrade reflects ongoing progress with the government's ambitious reforms of public finances and of the structure of the economy, coupled with a very healthy outlook on growth and strong foreign direct investment inflows," Standard & Poor's credit analyst Kai Stukenbrock told news wire TASR.
Foreign direct investments in the car industry are making Slovak industry very competitive. Meanwhile, Slovak exports are expanding the economy.
GDP growth is estimated to reach 5.2 percent in 2007.
Slovakia has the potential for the further upgrading of its rating.
Compiled by Magdalena MacLeod from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
14. Dec 2004 at 10:57