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ERA rates Azerbaijan BB+, outlook Stable
Piatok, 19 Október 2018

ERA issues the following unsolicited credit rating for Azerbaijan.

Long term unsolicited credit rating at level BB+. The agency expects a stable outlook for the following 12 months. The rated entity was notified on October 17, 2018, about the rating and after the notification there were no changes or amendments in the rating. This is the first release of the rating for distribution.

The credit rating assigned to Azerbaijan stems from an ongoing process of stabilization of the economy, yet sustained risks. The economy shows signs of stabilization based on inflation calming, improvements in real growth, and positive expectations on oil price dynamics. The long-term forward-looking indicators demonstrate certain improvement, though the overall assessment remains moderate on efficiency indices and low on political and economic stability.

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ERA rates Germany AAA, outlook Stable
Piatok, 12 Október 2018

ERA issues the following unsolicited credit rating for Germany.

Long term unsolicited credit rating at level AAA. The agency expects a stable outlook for the following 12 months. The rated entity was notified on October 10, 2018, about the rating and after the notification there weren’t changes or amendments in the rating. This is the first release of the rating for distribution.

The credit rating assigned to Germany stems from a strong economy and tight fiscal rule which calls for very low deficits and, thus, contributes to relatively healthy government finances and very high forward looking indicators, including governance indicators and R&D spending.

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ERA rates Slovakia A+, outlook Stable
Piatok, 05 Október 2018

ERA issues following unsolicited credit rating for Slovakia.

Long term unsolicited credit rating at level A+. The agency expects a stable outlook for the following 12 months. The rated entity was notified on October 3, 2018, about the rating and after the notification there weren’t changes or amendments in the rating. This is a first release of the rating for distribution.

The credit rating assigned to Slovakia stems from the European Central Bank’s debt guarantee, strict fiscal rule, and high assessment of governance and economic stability. The national fiscal rule, which is even stricter than the European one, is tightening. The rating is restricted by a moderately high debt load and low export diversification. Inadequate export diversification makes the economy vulnerable to trade restrictions.

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