Croatia Tries to Avoid Bail-Out by IMF

Croatia Tries to Avoid Bail-Out by IMF / Picture: © Flickr

At the end of September, 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. Already in August, S&P has lowered the outlook for Croatia´s sovereign debt rating.

As Croatia´s sovereign debt rating was cut to junk status, the…