S&P assigns Montenegro long-term BB rating

Standard & Poor's said it assigned its BB long-term and B short-term sovereign credit ratings to the Republic of Montenegro.

The outlook is stable.

S&P said the ratings on Montenegro balance the vulnerability of its narrow and open economy, together with regional political risks, against expectations of continued domestic political stability, prudent fiscal policies underpinning its moderate deficit and debt levels, and further progress in structural reforms. Since Montenegro does not have its own currency, there is no distinction between foreign and local currency ratings.

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