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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: © Vindobona.org
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…
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