ZAGREB, Dec 22 (Hina) - One of the world's leading credit ratingagencies, Standard & Poor's, on Wednesday improved for the first timeafter seven years Croatia's credit rating for the long-term foreigncurrency debt from BBB- to BBB,
while the rating for the short-termdebt (A-3) and kuna debts (BBB+/A-2) has remained the same, theFinance Ministry stated.
ZAGREB, Dec 22 (Hina) - One of the world's leading credit rating
agencies, Standard & Poor's, on Wednesday improved for the first time after
seven years Croatia's credit rating for the long-term foreign currency debt
from BBB- to BBB, while the rating for the short-term debt (A-3) and kuna debts
(BBB+/A-2) has remained the same, the Finance Ministry stated.The improved credit rating is the result of strong reforms and
structural changes over the past few years and of the stabilised foreign debt
of the public and private sectors, the ministry quoted the agency as saying.
The improved credit rating has also improved the credit rating of the
Croatian Bank for Reconstruction and Development (HBOR) for the long-term
foreign currency debt from BBB- to BBB. Assessments of the HBOR's credit rating
for the short-term debt and for debts in the national currency have been
confirmed and are the same as those of the state.
Standard & Poor's has stated that the outlook for new improvements
of the credit rating of Croatia and the HBOR is stable.