S&P affirms Slovenia

Standard & Poor's said it affirmed its long-term foreign and local currency sovereign credit ratings on the Republic of Slovenia at AA- and AA, respectively.

At the same time, S&P said the A-1+ short-term foreign and local currency ratings on Slovenia were affirmed.

The outlook is stable.

The ratings on the Republic of Slovenia reflect a small but well-diversified economy underpinned by stable, consensus-based political institutions and are also supported by a commitment to continued fiscal prudence, S&P noted.

The agency said the ratings on Slovenia are constrained by relatively low levels of wealth, with GDP per capita of $18,863 in 2005. This is compounded by slow progress on privatization and low levels of foreign direct investment, S&P added.

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