Slovenia Credit Rating Cut to Junk by Moody’s on Banking Turmoil
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Slovenia’s credit rating was cut to junk by Moody’s Investors Service, which cited “turmoil” in the country’s banking industry and said the government would have to offer lenders more financial support.
The rating was lowered two levels to Ba1 from Baa2, on par with Turkey, Moody’s said today, assigning a negative outlook. Five members of the 17-nation euro area are now rated junk by Moody’s. Standard & Poor’s and Fitch Ratings both rate Slovenia at A-, the fourth-lowest investment grade.