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OECD removes Slovakia from its default risk classification

Slovakia no longer represents a risk for its foreign business partners regarding repayment of export credits, the SITA newswire wrote. This is the position of the Organization for Economic Cooperation and Development (OECD), which will stop assigning a default risk rating to Slovakia with regard to repayment of export credits. The OECD gave Slovakia the highest possible rating on a seven-point scale: the risk-free rate of zero.

Slovakia no longer represents a risk for its foreign business partners regarding repayment of export credits, the SITA newswire wrote. This is the position of the Organization for Economic Cooperation and Development (OECD), which will stop assigning a default risk rating to Slovakia with regard to repayment of export credits. The OECD gave Slovakia the highest possible rating on a seven-point scale: the risk-free rate of zero.

This means that the country will be excluded from the OECD’s risk classification, the Slovak Finance Ministry stated on February 5. Slovakia is the only one of thirty two evaluated countries that received an improved rating from the OECD. This success is even more significant because Slovakia attained it amidst the financial and economic crises, the ministry added.

The OECD reclassified eight countries at its regular meeting in Paris at the end of January. The OECD downgraded ratings of other regional countries: Latvia and Estonia both received a rating of three and Bulgaria, Hungary and Lithuania all received a rating of four. Croatia was assessed with a rating of five and Ukraine with a rating of six. SITA

Compiled by Zuzana Vilikovská from press reports
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