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2018/03/26 / Erste Group Research

HR Short Note, Croatia

S&P upgrades Croatia to 'BB+' with stable outlook

Last Friday S&P delivered one-notch upgrade to 'BB+' hence aligning with our expectations and Fitch call from January. Strong fiscal performance and diminishing external imbalances supported the call. Outlook remains tied to fiscal prudence and stronger reform efforts. We see limited market reaction as investors were pricing rating upgrade for some time now. We see Moody's aligning as well, and IGR demanding more time and effort.

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General information

AuthorErste Group Research
Product nameCEE Country Update
Topic in focusFX, Macro/ Fixed income
Economy in focusCroatia
Currency in focusCroatian Kuna
Sector in focus-


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