Fitch affirms Slovenia

Fitch Ratings said it affirmed Slovenia's long-term foreign- and local-currency issuer default ratings at AA, along with its short-term foreign-currency issuer default rating at F1+ and country ceiling at AAA.

The outlook is stable.

Its fiscal consolidation has helped it handle an unexpectedly steep recession, Fitch said, and its public finance ratios have remained in line with AA medians, despite wider deficits and rising public debt.

But a renewed drive for fiscal consolidation will be essential beyond 2011 to stabilize and reduce public debt, the agency added.

Its fiscal policy has been a clear rating strength, Fitch said.

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