S&P lifts Slovakia’s ZSE, debt

Standard & Poor's said it raised its long-term corporate credit rating on Zapadoslovenska energetika AS (ZSE).

The outlook is stable.

At the same time, the agency raised its issue rating on ZSE's senior unsecured debt to A- from BBB+.

The upgrade follows the similar rating action on Slovakia, which S&P upgraded to A+ from A on July 31.

The agency considers ZSE to be a government-related entity, and believes there is a "moderately high" likelihood that the Slovak government would provide extraordinary support to ZSE in the event of financial distress. S&P said it believes that the government's ability to support ZSE has strengthened.

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