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Fitch affirms Croatia's credit rating at 'BBB-', outlook stable


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 sub ....

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Fitch Affirms Nigeria's Long-Term Foreign-Currency IDR with


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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