Slovenia Must Cut Spending or Risk Rating Cut, Kranjec Says
This article is for subscribers only.
Slovenia’s next government must cut spending by as much as 1 billion euros ($1.28 billion) or risk another downgrade in its sovereign-credit rating, central bank Governor Marko Kranjec said.
Slovenia, the first post-communist nation to adopt the euro, was lowered one level to A+ with a negative outlook by Standard and Poor’s on Jan. 13, along with eight other euro-zone members. Moody’s cut its rating to A1 with a negative outlook on Dec. 22 and Fitch Ratings may do the same by the end of the month, Managing Director Edward Parker said today.