Fitch: Slovakia outlook positive

Fitch Ratings said it revised the outlook for Slovakia's long-term foreign-currency issuer default rating of A to positive from stable. Fitch also affirmed the issuer default ratings at long-term foreign-currency A, long-term local-currency A+ with a stable outlook and short-term foreign-currency F1. Slovakia's country ceiling is affirmed at AA.

"Euro adoption will enhance Slovakia's creditworthiness. The positive outlook reflects Fitch's opinion that Slovakia is more likely than not to meet the Maastricht reference criteria and qualify for euro adoption in January 2009," David Heslam, a director in Fitch's emerging Europe sovereign team, said in a written statement.

"Compliance with the exchange rate assessment is an area of less certainty, partly due to the vague nature of the criterion itself," Heslam said.

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