Slovakia maintains its rating, but its outlook worsens

Corruption and budget issues are behind the worsened outlook.

Slovakia cannot hope for a better rating anytime soon.

The Moody's Investors Service agency confirmed Slovakia's A2 rating, but worsened its outlook from positive to stable.

The reasons are the absence of material improvements to Slovakia's institutional strength, the deterioration in long term fiscal sustainability due to the partial reversal of past pension reforms; the expected slowing pace in reducing the government's debt burden and Slovakia's economic strength, which despite improvements remains low.

The agency would consider upgrading the country's outlook if it saw efforts to tackle some structural weaknesses, including the education system and corruption.

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