S&P cuts Slovenia to negative

Standard & Poor's said that it revised the outlook on Slovenia to negative from stable and affirmed the AA long-term and A-1+ short-term sovereign credit ratings on Slovenia.

The outlook revision reflects the opinion that the Slovenian government's commitment to budgetary consolidation has weakened since the onset in 2008 of the rapid deterioration in public finances, S&P said.

The negative outlook reflects the possibility of a downgrade over the next two years should Slovenia's general government debt burden fail to stabilize because of a weakened government commitment to medium-term budgetary targets, S&P said.

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