S&P ups Czech view to positive

Standard & Poor's said it revised its outlook on the Czech Republic to positive from stable.

Additionally, S&P affirmed the A- long-term and A-2 short-term foreign currency sovereign credit ratings, the A long-term and A-1 short-term local currency sovereign credit ratings, the A foreign currency senior unsecured debt and local currency senior unsecured debt ratings and the A-1 local currency commercial paper rating.

The outlook change is based on the Czech Republic's good economic growth prospects, supported by strong exports and foreign direct investment inflows, the agency said. The fiscal performance has also improved, due to robust revenue intakes and faster progress with privatization.

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