Fitch Ratings confirmed rating for Slovakia

ON FEBRUARY 20, Fitch Ratings confirmed Slovakia’s Long-term Foreign and Local Currency Issuer Default Ratings at A+.

(Source: SME)

Slovakia’s A+ rating reflects its robust institutional framework, including membership of the European Union and the eurozone, with the outlook being stable, the Reuters newswire wrote.

Fitch also confirmed the cap rating of the country at AAA and the issue rating of short-term bonds in foreign currency at F1.

On the other hand, Fitch points to certain limits stemming from the relatively big instability of GDP due to market and sectoral concentration of the Slovak economy, and the high rate of openness of Slovakia towards foreign trade. Fitch sees the state indebtedness as stabilised at about 55 percent of GDP, in spite of continuing pressure for its increase. 

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