D&B affirms Croatias credit rating at DB3d.

By bne IntelliNews December 8, 2010
Credit rating agency Dun & Bradstreet (D&B) affirmed Croatia's rating at DB3d in December, indicating a slight investment risk, news agency HINA reported, quoting the rating agency's latest report. The agency revised its forecasts for the country's economic development to a GDP drop of 1.7% y/y in 2010 and a growth of 1.3% y/y in 2011. Risks remain due to tight lending, high number of bankruptcies and the fragile economic outlook. The agency also stressed that the banking sector succeeded in avoiding the financial crisis. The political climate is expected to deteriorate further, but there will probably be no government reshuffles prior to the next general elections in November 2011.

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