Serbian Bonds Set for Boost in Latest Balkans Rating Upgrade
- Serb FX bonds may benefit from increased turnover, Erste says
- Serbia joining investment grade follows upgrades for Croatia
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Serbian government bonds are poised to extend this year’s gains after its first-ever move into investment grade, in the latest credit rating win for the Balkan region over the past month.
S&P Global Ratings raised its assessment of Serbia’s foreign-currency bonds by one notch to BBB-, citing economic resilience against shocks as well as prudent fiscal and monetary policies. The move brought the Balkan nation’s credit score out of junk issuer status and on par with neighboring Hungary and Romania, which are both members of the European Union that Serbia aspires to join.