D&B retains Croatia's DB3d credit rating.

By bne IntelliNews January 12, 2011
International credit rating agency Dun & Bradstreet (D&B) retained Croatia's DB3d credit rating, placing the country among those with sight risk of investment, news agency HINA reported. The rating takes into consideration the 2011 budget, envisaging a 1.5% y/y GDP growth and a government deficit of 4.3% of GDP. Regarding the government's intentions to issue HRK 20.6bn of sovereign bonds on the local and the foreign markets in order to serve maturing debt and cover budget financial gap, D&B said that the government would not have problems collecting funds on the financial markets, but said that the increasing foreign debt would have a negative effect on the borrowing costs. The agency encouraged the country to make changes to its economic policy and to undertake structural reforms in order to improve its investment climate. D&B also recommended more efficient fight against organised crime and corruption, implementation of reforms in the judiciary and protection of minorities. D&B forecast that the country will be able to finalise EU accession talks by end-2011 and become a full-fledged member in 2012.

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