Fitch affirms Croatia s credit rating at BBB- , outlook stable Fitch (Author: fitchratings.com) License: all rights reserved.
ZAGREB (Croatia), May 25 (SeeNews) - Fitch Ratings said it affirmed Croatia s long-term foreign-currency Issuer Default Rating (IDR) at BBB- with a stable outlook.
Fitch sees Croatia s economy growing by 5.5% in 2021, subject to the expected recovery of the tourism sector by at around two-thirds of its pre-pandemic level, it said in a statement last week.
The global ratings agency also said: KEY RATING DRIVERS
Croatia s ratings balance strong structural features, including higher human development, governance indicators and GDP per capita than peers, with high public sector debt and a record of low GDP growth, partly due to the slow adoption of structural reforms. The Stable Outlook weighs large short-term downside risks related to pandemic developments against stronger medium-term growth prospects linked to substantial EU fund supp
KEY RATING DRIVERS
Nigeria’s ‘B’ rating is supported by the large size of the economy, a low general government (GG) debt-to-GDP ratio, small foreign-currency (FX) indebtedness of the sovereign and a comparatively developed financial system with a deep domestic debt market. The rating is constrained by particularly weak fiscal revenue, comparatively low governance and development indicators, high dependence on hydrocarbons and continued weak growth and high inflation.
Nigeria continues to contend with external liquidity pressures that were magnified by the 2020 pandemic-related shock and resilience to adverse external developments is weak. Despite gradual and moderate exchange-rate depreciation over the last year, the naira remains overvalued.
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Fitch affirms Romania at BBB- , outlook remains negative Fitch Ratings Romania
BUCHAREST (Romania), April 24 (SeeNews) - Fitch Ratings said it has affirmed Romania s long-term foreign and local currency issuer default ratings (IDR) at BBB- , with a negative outlook.
Romania s investment-grade ratings are supported by government debt and debt service levels below peers, and GDP per capita, governance and human development indicators that are above BBB category peers and underpinned by EU membership, Fitch said in a press release on Friday evening.
These are balanced against larger twin budget and current account deficits (CAD) than peers and relatively high net external debtor and negative net international investment positions, it added.
Mon 12 Apr, 2021 – 8:45 AM ET
Fitch Ratings – Hong Kong – 12 Apr 2021: Fitch Ratings has revised the Outlook on Cameroon’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at ‘B’.
KEY RATING DRIVERS
The revision of the Outlook reflects that the pandemic shock caused only a mild deterioration in public finances, which Fitch expects will be reversed, and confidence that the government will secure sufficient funding in the medium term, limiting debt service and refinancing risks.
Cameroon’s public finances have proven relatively resilient to the pandemic shock and we expect the deficit to be on a downward path over the medium term. The fiscal deficit on a cash basis widened in 2020 to 4.5% of GDP from 3.0% in 2019, owing to an only mild hit to tax collection and limited expenditure increases in response to the coronavirus shock (1.3% of GDP), given financing constraints. The phasing-out of pandemic-related spending and