MOODY'S AGENCY COMPLETES ASSESSMENT OF CROATIA'S CREDIT RATING

ZAGREB, Jan 20 (Hina) - The Moody's agency has marked Croatia's credit rating with Baa3, which corresponds to the BBB- mark given by the other two agencies, S&P and IBCA, the Croatian Government said on Monday in a statement. "All three leading agencies have thus acknowledged Croatia's political and economic stability and its very good prospects for overall development," the statement emphasised. The results from the other two agencies, IBCA from London and Standard and Poor's from the United States, were communicated to the Croatian public by Prime Minister Zlatko Matesa on Friday. "Moody's especially emphasised the low foreign debt, the success of the stabilisation scheme and the diversity of the economic structure. They are expecting strong medium-term growth, especially in view of the improvement of the general political situation in the region," the statement said. "Croatia's macroeconomic stability, low and controlled fiscal deficits and the public's confidence in the domestic currency have also been given a high mark." "Moody's is expecting an increase in investments and foreign debt, but believes that total indebtedness will remain moderate and within acceptable limits. Provided a stable geopolitical situation is maintained, Moody's considers that the Croatian know-how, educated workforce and natural resources constitute strong assets," the statement said. The Croatian Government is very satisfied with the rating, especially as it is only a first and very careful evaluation of the country's creditworthiness," the statement said. "This assessment binds all entities in Croatia to persevere with the reforms so that we may soon get an even better rating and strengthen our position in that select club of the world's most developed countries," the statement concluded. (hina) as 201214 MET jan 97