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Moody's upgrades Zeleznice to Aaa.sk
Moody's Investors Service said it upgraded the long-term national scale issuer rating of Slovakia-based Zeleznice Slovenskej republiky, sp to Aaa.sk from Aa1.sk.
The outlook is stable.
The upgrade follows Moody's upgrade of the Government of Slovakia's local-currency rating to A1 from A2 and concludes the review for possible upgrade begun on July 13.
Given that Zeleznice is a state-owned company, its Aaa.sk rating reflects not only its underlying credit quality, but also the implied creditworthiness of the Government of Slovakia and the company's expected high support from and high dependence on the government, the agency said.
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