D&B assigns DB3d credit rating to Croatia.

By bne IntelliNews May 13, 2010
The international credit rating agency Dun & Bradstreet (D&B) assigned DB3d credit rating, which placed the country among the countries with slight risk and with stable ratings trends. The report stated that 65% of payments were paid on time in Q4, while 23.5% of them arrived with a delay of 30 or more days. As much as 8.9% of the payments were delayed by over 60 days. D&B pointed out that in 2010 there were few signs for sustainable economic recovery. It also stressed that the government failed in reaching fiscal consolidation through the introduction of anti-recession measures. The government had tried to increase the credit availability to the private sector in order to stimulate investment and consumption spending. The central bank (HNB) responded by lowering the reserve requirements from 14% to 11% in order to ensure more liquidity for the commercial banks, which to grant more loans to businesses. However, the report stressed that there was a risk that loans will be provided not only to companies, which had financial difficulties, but also to companies, which were fundamentally unprofitable. Slovenia received better credit rating (DB2c). The country was fallowed by Albania (DB4a), Macedonia (DB4b), Serbia (DB4d) and Bosnia-Herzegovina (DB6a).

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