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Croatia: S&P Downgrades Rating
Politics ♦
Published: January 24, 2014; 18:24 ♦ (Vindobona)

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Standard&Poors; has downgraded Croatia’s rating to “BB”. The outloock on the long-term rating for the country is at least “stable”.

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…
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