Moody's sees upward pressure on Czech sovereign rating.

By bne IntelliNews September 17, 2010
International rating agency Moody's sees upward pressure on the Czech Republic's sovereign ratings, Reuters quoted senior credit officer Dietmar Hornung as saying. According to Hornung, if the economic developments in the country continue improving, it might appear that its ratings are slightly underrated, which could result in a rating upgrade, given certain conditions. Hornung earlier said that the sovereign rating might be upgraded if the government of PM Petr Necas manages to cut the budget deficit as pledged, while an eventual inability of the government to reduce the structural deficit and a failure to step up the pension and healthcare reforms would probably result in a downgrade rating pressure. Moody's has an A1 rating for the Czech Republic with a stable outlook.

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