S&P corrects Slovenia

Standard & Poor's said in a corrected release to restate the short-term rating that it lowered its long-term sovereign credit ratings on the Republic of Slovenia to AA- from AA. At the same time, S&P said it affirmed the A-1+ short-term ratings. The transfer & convertibility assessment for Slovenia remains unchanged at AAA.

The outlook is stable.

The downgrade reflects S&P's view that Slovenia's fiscal position has deteriorated since the 2008 financial crisis and the government has not thus far presented a credible consolidation strategy, the agency said.

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