S&P changes Croatia view to positive

S&P said it revised its outlook on Croatia to positive from stable.

At the same time, the agency affirmed the BB+/B long- and short-term foreign and local currency sovereign credit ratings on Croatia.

“The outlook revision reflects our expectation that Croatia's economy will continue to expand and government debt reduce further, with tail risks relating to Croatia's largest food retailer Agrokor gradually reducing following the settlement with the majority of its creditors,” S&P said in a news release.

“We could raise our ratings on Croatia if it maintains fiscal prudency, supported by expenditure control and revenue enhancing measures, reducing public debt.”

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