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HUP says rating downgrade expected, calls for urgent reforms

ZAGREB, Feb 1 (Hina) - The downgrade by Moody's agency of Croatia's credit rating to the speculative level on Friday came as no great surprise to the Croatian Employers' Association (HUP), which said that this could have been expected because of the government's failure to implement necessary reforms and that it was bad news for investors who wanted to do business in Croatia.

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