S&P Confirms Slovakia's Rating at 'A' with Stable Outlook

Bratislava, 24 October (TASR) - International credit rating agency Standard & Poor's (S&P) has confirmed Slovakia's credit rating at 'A' with a stable outlook, the Finance Ministry announced on Friday (23 October), adding that the rating is still one notch higher than those assigned by Moody's and Fitch. "This is a key decision, coming less than ten days after the approval of the 2027 state budget. The fact that the rating has been maintained in such a challenging global environment is clear proof that the state's financial policy was set safely, as were the parameters of the approved budget," stated the Finance Ministry. The ministry stressed that as S&P's assessment takes into account the parameters of the approved budget, the decision also confirms that the budget is well designed in light of the current macroeconomic environment and that it represents a stabilising factor for the Slovak economy. "The latest confirmation of the rating by one of the world's most significant rating agencies, S&P, is a slap in the face for the entire anti-Slovak opposition and clear proof that the narrative that it's spreading about the budget along the lines of 'the worse for Slovakia, the better for them' is a lie," said Finance Minister Ladislav Kamenicky (Smer-SD). According to the ministry, S&P released only a brief statement on Friday confirming the rating. Detailed information and the full assessment will be published on Monday (26 October) evening. In April of this year, S&P downgraded Slovakia's rating by one notch from 'A+' with a negative outlook to 'A' with a stable outlook. In early May, Fitch confirmed Slovakia's rating at 'A-' with a stable outlook, while Moody's likewise confirmed Slovakia's rating in June at its previous level of 'A3' with a stable outlook. jrg/df