After Moody’s downgraded Slovenia immediately before the new government’s first international bond issue a few weeks ago, causing government revolt and subsequent threats of a law suit against the rating agency, Fitch followed suit.
As Budapest-based colleague from FT, Kester Eddy, writes for FT beyondbrics:
The latest turn of the screw has come from credit agency Fitch, which cut Slovenia’s sovereign rating to BBB+ from A-, with negative outlook.
[…]
Analysts said the move, which still maintains Slovenia’s investment-grade status (unlike Moody’s downgrade at the end of April), is fair, but would have limited impact.
Link to the article here (FT beyondbrics).
How the crisis in Slovenia will get resolved remains to be seen, though light at the end of the tunnel grows dimmer by the week.
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