FACTBOX-Europe's emerging market ratings under pressure

Thu Oct 30, 2008 11:51am EDT
 
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LONDON, Oct 30 (Reuters) - Ratings agencies have slashed their outlooks and debt ratings for a string of emerging European and other countries as the credit crunch sparks crises in several economies.

Here is a list of long-term foreign currency ratings and outlooks for countries in emerging Europe, until recently seen as one of the safest regions across emerging markets but now exposed to credit worries, recession in the euro zone and increased banking problems.

In the latest ratings moves, Standard & Poor's cut Bulgaria's foreign currency credit rating one notch to BBB with negative outlook on Oct 30, citing worries about external imbalances.

COUNTRY S&P MOODY's FITCH

BULGARIA BBB Baa3 BBB

Negative Stable Negative

Standard & Poor's cut Bulgaria's foreign currency credit rating one notch to BBB with negative outlook on Oct 30, citing worries about external imbalances.

CROATIA S&P MOODY'S FITCH

BBB Baa3 BBB-

Negative Positive Stable Standard & Poor's cut Croatia's outlook to negative from stable on Oct 27, citing risks to Croatia's ability to finance high external imbalances.

ESTONIA A A1 A-

Negative Stable Negative Fitch downgraded the ratings of Estonia along with those for its Baltic neighbours Latvia and Lithuania on Oct. 3, citing the risk of a prolonged and deep recession.   Continued...

 

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