S&P ups Slovak Republic outlook to positive

Standard & Poor's said it revised its outlook on the Slovak Republic to positive from stable and raised the transfer and convertibility assessment on the Republic to AA+ from AA.

At the same time, the agency said that the A/A-1 sovereign credit ratings on the Slovak Republic were affirmed.

S&P noted that the outlook revision reflects its expectation that Slovakia will join the Eurozone in 2009 and the ratings reflect the Republic's strong and balanced economic growth thanks to reforms implemented by the previous administration, and its moderate debt burden.

These strengths are offset by the country's only moderate wealth levels and the uncertainty surrounding its future economic and fiscal policy, the agency noted.

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