January 31, 2014 / 6:11 AM / 4 years ago

S&P affirms Slovak republic rating at A/A-1, outlook stable

SYDNEY, Jan 31 (Reuters) - Standard & Poor’s Ratings Services has affirmed their long and short-term sovereign credit ratings on the Slovak Republic at ‘A/A-1’ with a stable outlook.

The credit ratings agency said the rating reflects expectations that the government will stabilize its debt burden through fiscal consolidation, a stable banking sector and that external indebtedness will remain low.

“We believe these strengths are offset by economic challenges including high structural and youth unemployment, and low labor activity rates and wealth, which still lag its eurozone peers,” said S&P in a statement. (Reporting by Thuy Ong; Editing by Miral Fahmy)

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