ZAGREB, Feb 9 (Hina) - Standard & Poor's, one of the world's leading credit agencies, said on Friday Croatia's rating had changed from a negative to a stable outlook, i.e. projection of credit rating evaluations in the future. At the
same time, Croatia's investment credit rating (BBB-) has been confirmed.
ZAGREB, Feb 9 (Hina) - Standard & Poor's, one of the world's leading
credit agencies, said on Friday Croatia's rating had changed from a
negative to a stable outlook, i.e. projection of credit rating
evaluations in the future. At the same time, Croatia's investment
credit rating (BBB-) has been confirmed.#L#
The change in outlook in Croatia's credit rating is a reflection of
an overall improvement in the economy and better balance-of-
payments indicators. The stable outlook informs foreign investors
that investing in Croatia is now safer.
The government's entire economic policy, the budget in particular,
the state of the public and financial sector, and the resulting
confidence in Croatia, which became the basis for an agreement with
the International Monetary Fund, strengthened Croatia's standing
on the financial market, the Finance Ministry said today.
The stronger standing on foreign markets facilitates Croatian
companies' access to foreign partners, new markets, and
development programmes, the ministry said. This helped the
ministry achieved the best result yet in the issuing of securities,
namely five-year Samurai bonds.
In the last two weeks, the price of Croatian securities on secondary
markets have risen substantially, thus reducing the risk of
investing in Croatian securities by one fifth.
All of this will help Croatia and its companies reach capital,
namely investments and employment, more cost-effectively.
(hina) ha