S&P affirms Czech Republic

S&P said it affirmed its AA- foreign currency and AA local currency long-term sovereign credit ratings on the Czech Republic.

At the same time, S&P also affirmed the A-1+ local and foreign currency short-term ratings. The outlook on the long-term ratings is stable.

“Our ratings on the Czech Republic are supported by the country's strong institutional arrangements, comparatively low levels of public debt, and high level of flexibility with regard to monetary policy conducted by the Czech National Bank (CNB). The country has lower GDP per capita than its Western European neighbors and depends relatively heavily on the economic performance of key trading partners, which weighs on the ratings,” S&P said in a news release.

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