S&P cuts Slovenia

Standard & Poor's said it lowered its long-term sovereign credit rating on the Republic of Slovenia to A from A+.

At the same time, the agency said it affirmed its short-term sovereign rating on Slovenia at A-1. The outlook remains negative. The transfer and convertibility assessment remains at AAA.

The agency said the downgrade reflects its opinion that increasing political polarization and an absence of consensus among government coalition parties is undermining the credibility of the government's policy responses to rising pressures on the banking system, public finances and the broader economy.

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