Fitch drops Slovenia; outlook still negative

Fitch Ratings said it has downgraded Slovenia's long-term foreign and local currency issuer default ratings to BBB+ from A-.

The outlook on the long-term issuer default ratings remains negative.

Fitch said it has simultaneously affirmed the short-term foreign currency issuer default rating at F2 and the common euro zone country ceiling for Slovenia at AAA.

According to the agency, the downgrade of Slovenia's sovereign ratings reflects the macroeconomic and fiscal outlook that has deteriorated significantly since Fitch's last rating review of the Slovenian sovereign in August 2012.

The agency now forecasts a 2% contraction in real GDP in 2013 and a decline of 0.3% in 2014.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.