Croatia to Issue Dollar Bonds

Politics ♦ Published: September 24, 2013; 07:02 ♦ (Vindobona)

In order to cover its foreign exchange needs, Croatia will issue a dollar bond with a size of $ 2.7bn.

Croatia to Issue Dollar Bonds / Picture: ©

The U.S. rating agency Fitch has lowered the foreign currency credit rating from “BBB-” to “BB+”. The local currency rating was cut from “BBB” to “BBB-“. The outlook was kept unchanged. Now, Croatia has the same rating like Hungary.

According to Fitch, the rating cut was necessary because of the worsening conditions for fiscal consolidation. Croatia´s public debt…