FINANCE MINISTER: CROATIA'S CREDIT RATING LOWERED BY ONE DEGREE

ZAGREB, April 29 (Hina) - The London-based credit rating agency Fitch IBCA has lowered Croatia's credit rating by one degree, from BBB- to BB+, due to the latest events and NATO attacks on Yugoslavia, Croatian Finance Minister Borislav Skegro told reporters in Zagreb on Thursday. The credit rating agencies Moody and Standard & Poors, whose delegations visited Croatia last and this week, will not change Croatia's current credit rating. Talking to reporters after the open part of today's government session, Skegro said the one-and-a-half-month long NATO operation in Yugoslavia did not only affect Croatia's tourism and economy, but also its credit rating. The Finance Ministry, he said, tried to do everything to prove to IBCA representatives that their decision is premature. One has to hope that - should events take a more favourable course, not only as regards tourism but also as regards the announced budgetary revision - Croatia would as early as next month regain its previous credit rating with the IBCA, Skegro said. According to him, the IBCA has assessed that Croatia has a moderate public and external debt, and an exceptionally long period with positive indicators, as well as that there are no indications that it could not service its commitments. A country's credit rating is the indicator of its ability to pay debts on a regular basis. (hina) rml ,