Prime Minister Andrej Plenković (Photo: Patrik Macek/PIXSELL) Prime Minister Andrej Plenković (Photo: Patrik Macek/PIXSELL)

Opening today's cabinet session Prime Minister Andrej Plenković characterized the country's latest Euro-bond issue as very successful, noting that this was the most favorable refinancing of Croatia's obligations on the international market. He said that this was the direct result of the Standard and Poor’s and Fitch ratings agencies raising Croatia's credit rating to investment grade.

"This is the best investment credit rating that we've received in the past 14 years. The report itself outlines the work of this government, noting that it has ensured political stability, a precondition for any kind of reform process, and thanks to that in the past 2 to 3 years we have made it possible to achieve economic prosperity."

Earlier in the year the third major rating agency, Moody’s, confirmed its earlier Ba2 rating, which means that it falls within the Speculative Grade, a rating judged to have speculative elements and a significant credit risk.

Source: HRT