Croatia Gets Second Investment-Grade Rating as Fitch Follows S&P
- Credit rating raised one notch to BBB- with positive outlook
- Upgrade reflects fiscal tightening and falling debt levels
The Croatian national flag flies from building in central Zagreb, Croatia.
Photographer: Simon Dawson/Bloomberg
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Fitch Ratings raised Croatia’s credit score to investment-grade level, making it the second major rating company to bring the Adriatic Sea country out of junk-bond status since March.
The sovereign rating was upgraded by one notch to BBB-, with a positive outlook, from BB+, Fitch said on Friday, citing the European Union member’s efforts in lowering public debt, balancing the budget, and improving economic growth. The move puts Croatia on par with Russia and fellow EU member Romania. S&P Global Ratings lifted Croatia to investment-grade status in March, while Moody’s Investors Service rates it at Ba2, with a positive outlook.