S&P downgrades Slovenia

Standard & Poor's said it lowered its long- and short-term foreign and local currency sovereign credit ratings on the Republic of Slovenia to A-/A-2 from A/A-1.

At the same time, S&P removed the ratings from CreditWatch with negative implications, where they were placed on Nov. 6.

The outlook on the long-term rating is stable. The transfer & convertibility assessment remains at AAA.

S&P said the downgrade reflects Slovenia's higher-than-anticipated debt burden, due to its announced support of its state-owned banks, amid uncertain growth prospects.

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