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ERA rates Slovakia A+, outlook Stable
Friday, 05 October 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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ERA rates Switzerland AAA, outlook Stable
Friday, 05 October 2018

ERA issues the following unsolicited credit rating for Switzerland.

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 3, 2018, about the rating and after the notification there weren’tchanges or amendments in the rating. This is the first release of the rating for distribution.

The credit rating assigned to Switzerland stems from a strict fiscal rule, high level of foreign reserves and a very high assessment of governance and economic stability. The fiscal rule, which assumes balanced budgets over the business cycle, is lowering the debt to GDP ratio, which is expected to decline to even lower levels in the future.

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End of consultation period and publisment of final version of MFI methodology
Wednesday, 19 September 2018

After end of the consultation period for the proposed new Methodology for Credit Rating Assignment to Multilateral Financial Institutions and Other Supranational Development Institutions (Methodology), the final methodology was published.

ERA closed the consultation period with one comment containing 3 questions. Shareholder didn’t request confidentiality, so ERA’s answers were published together with the methodology. The methodology was not changed due to comment. ERA starts using this methodology from 19.9.2018.


Link to the methodology

Link to the comments and answers