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BUSINESS BRIEFS

S&P raises Slovakia's credit rating

STANDARD & Poor's 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. Slovakia has the potential for the further upgrading its rating.

"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 the TASR news agency.

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