Fitch affirms Slovakia

Fitch Ratings said it affirmed Slovakia's foreign currency issuer default rating at A and local currency issuer default rating at A+.

At the same time, the agency affirmed Slovakia's short-term foreign currency issuer default rating at F1 and country ceiling at AA.

The outlooks on the issuer default ratings are stable.

"A rationalization of public finances has been a central feature of Slovakia's impressive reform drive and provides a key support to the ratings," said David Heslam, associate director in Fitch's Sovereign team.

The general government deficit has averaged 3.3% of GDP since 2003 and is expected to fall below 3% in 2007, including the costs of pension reforms that have placed the public system on a more sustainable long-term footing, the agency said.

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