S&P affirms Czech Republic

Standard & Poor's said it affirmed its A/A-1 foreign currency and A+/A-1 local currency sovereign credit ratings on the Czech Republic.

The outlook is stable.

According to the agency, the sovereign credit ratings on the Czech Republic are supported by the country's diversified and competitive economy and moderate though rising government debt burden relative to peers.

Furthermore, 86% of central government debt is issued in local currency, which lessens rollover risk to the sovereign, S&P noted.

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