Standard & Poor's ratings agency on Friday revised its outlook on Croatia to stable from negative and affirmed its 'BB' long-term and 'B' short-term foreign and local currency sovereign credit ratings.
Ratings agency Standard & Poor’s has raised its long-term corporate credit rating for Hungarian oil and gas company MOL from BB to BB+, MOL said in a press release, adding that the outlook for the rating is stable.
Croatian Finance Minister Zdravko Maric has said that the decision of the S&P Global Ratings agency to affirm its 'BB' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Croatia with the outlook remaining negative "is the best we could achieve in the current moment".
Political instability in Croatia after the government lost a no-confidence vote last week is lamentable and could do fresh damage to its long-suffering economy, Reuters quoted an analyst of the rating agency Standard and Poor's (S&P) as saying on Tuesday.
"Unfortunately, in the past four years Croatia has seen its credit ratings downgraded twice and negative outlooks, and now it is one of only four economies with negative outlooks regarding their credit ratings,"