S&P ups Croatia view to positive

S&P said it revised to positive from stable the outlook on the long-term foreign and local currency sovereign credit ratings on the Republic of Croatia. At the same time, S&P affirmed its BB long-term and B short-term foreign and local currency sovereign credit ratings on Croatia.

“The positive outlook reflects our expectation that Croatia's economic expansion will continue, helping further consolidation of public finances, while external ratios will benefit from continued deleveraging, as well as that the potential fallout from the situation around Croatia's largest retail conglomerate, Agrokor, will remain contained.

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