Fitch cuts Slovenia

Fitch Ratings said it is providing further comment on the rating actions it took earlier on Slovenia, where its long-term issuer default rating was downgraded to A from AA- with a negative outlook and its short-term issuer default rating was downgraded to F1 from F1+.

The agency said that the downgrade follows the rating watch negative placed on the sovereign ratings of Slovenia and five other Euro Area Member States in December.

This was initiated in response to concern over the lack of clarity on the ultimate structure of a fundamentally reformed economic and monetary union, the agency added.

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