Croatia: S&P Downgrades Rating

Croatia: S&P Downgrades Rating / Picture: © Flickr

The reason for the decision to downgrade Croatia was the still high budget deficit and the ongoing recession, which will now be in a sixth year in a row, as referred to by the raging agency. The newest EU member country is now two levels below investment grade. However, the outlook on the long-term rating was upgraded from “negative” to “stable”, as announced by the rating…