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Fitch confirms rating for Slovakia

INTERNATIONAL rating agency Fitch Ratings has confirmed the rating of Slovakia’s long-term liabilities in both domestic and foreign currency at A+ and its short-term liabilities at F1, with a stable outlook.

INTERNATIONAL rating agency Fitch Ratings has confirmed the rating of Slovakia’s long-term liabilities in both domestic and foreign currency at A+ and its short-term liabilities at F1, with a stable outlook.

It also confirmed Slovakia’s cap rating at AAA, the TASR newswire reported. Fitch explained its confirmation of the rating by noting that since the beginning of the economic crisis in 2008-2009, the Slovak economy has been among the strongest in the eurozone, as well as in central and eastern Europe. Economic growth for 2012, at 2 percent, was also in line with the agency’s expectations, in spite of much worse development in the eurozone as a whole. However, the continuing recession in the eurozone will slow economic growth in Slovakia to about 1.2 percent this year, according to Fitch.

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