UniCredit Bank Serbia JSC
Summary:
Standard & Poor’s Ratings Services has affirmed the long- and short-term foreign and local currency sovereign credit ratings on Serbia at BB-/B, with the outlook remaining negative.
Mon, 28/10/2013
Standard & Poor’s Ratings Services (S&P) has affirmed Serbia’s long- and short-term foreign and local currency sovereign credit ratings at BB-/B, with the outlook remaining negative. S&P says that Serbia faces high fiscal and external deficits as well as moderate GDP per capita and limited monetary policy flexibility.However, the ratings are supported by Serbia’s long-term economic growth potential, although this is stunted by the large public sector, labor market inefficiencies, and uncertainty in the business environment.
Impact on investors: Standard & Poor has affirmed Serbia’s long- and short-term foreign and local currency sovereign credit ratings at BB-/B, with negative outlook.