S&P lowers Slovak Republic and Slovenia

Standard & Poor's said it lowered its ratings on the Slovak Republic and Republic of Slovenia.

The agency lowered the long-term sovereign credit rating on Slovak Republic to A from A+, and affirmed the short-term A-1 rating. It also lowered Slovenia's long-term sovereign credit rating to A+ from AA- and the short-term rating to A-1 from A-1+l.

At the same time, the agency said it removed all ratings from CreditWatch with negative implications, where they were placed on Dec. 5. The outlook is stable.

The transfer and convertibility assessment for both countries, as for all European Economic and Monetary Union members, is AAA.

The outcomes from the E.U. summit on Dec. 9, and subsequent statements from policymakers lead S&P to believe that the agreement reached has not produced a breakthrough of sufficient size and scope to fully address the euro zone's financial problems, the agency said.

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