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S&P affirms ratings on Zagreb, HBOR, raises rating on Zagrebacki Holding company

ZAGREB, July 23 (Hina) - Standard & Poor's (S&P) Global Ratings earlier this week affirmed its 'BB/B' long-and short- issuer credit ratings on Croatia's 100% state-owned development bank -- the Croatian Bank for Reconstruction and Development (HBOR), and raised its long-term corporate credit rating on Zagrebacki Holding municipal services company to 'BB-' from 'B+'.

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