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Fitch upgrades Slovakia’s credit rating

THE INTERNATIONAL ratings agency Fitch Ratings praised Slovakia for its reforms when it upgraded Slovakia's long-term foreign currency rating to A from A- on October 11. The Czech Republic received the same rating. For the first time Slovakia got a higher rating than Poland and Hungary, the daily SME reported.

"The upgrade to Slovakia's long-term foreign currency ratings reflects continuing improvements in credit fundamentals, underpinned by strong economic growth, which is aiding real convergence with Western European living standards," said David Heslam, Associate Director of Fitch's Sovereign group.

It also takes into account substantial fiscal policy reforms and reduced external financing risks, he added.

Compiled by Magdalena MacLeod from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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