August 24, 2011 / 2:15 PM / 8 years ago

S&P upgrades Czech Republic by two notches

NEW YORK, Aug 24 (Reuters) - Standard & Poor’s on Wednesday upgraded the Czech Republic’s credit ratings by two notches as it implemented a new methodology more heavily focused on political and economic factors.

S&P raised the Czech Republic’s long-term sovereign credit rating to AA-minus from A, saying the upgrade reflects the country’s “prudently managed and balanced economy.”

The outlook on the new rating is stable. (Reporting by Walter Brandimarte; Editing by James Dalgleish)

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