Moody's downgrades Croatia to Ba1, outlook stable

Thu Jan 31, 2013 8:44pm EST

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Feb 1 (Reuters) - Moody's Investors Service on Friday downgraded Croatia's government bond rating to Ba1, from Baa3, citing poor growth prospects and a lack of fiscal flexibility for the government.

Moody's also changed the outlook for the rating to stable from negative, saying there was limited risk the government's fiscal position and debt would materially deteriorate any further.