Fitch: Credibility of Croatia's fiscal consolidation reduced, but its credit rating is backed by several factors

ZAGREB, Dec 4 (Hina) - The Fitch credit agency reiterated at a teleconference on Monday that the state budget for 2013, had lessened the Croatian government's credibility of its medium-term fiscal consolidation plan, after this global credit ratings provider last week lowered Croatia's outlook from stable to negative, ascribing the new rating outlook to the slower consolidation of the state budget. Last Thursday, the rating agency also affirmed the country’s Long-term foreign-currency Issuer Default Rating (IDR) at 'BBB-' and Long-term local currency IDR at 'BBB'.