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Fitch downgrades Slovenia's credit rating to BBB+


11:06, May 18, 2013

LONDON, May 17 (Xinhua) -- Fitch Ratings downgraded Slovenia's long-term foreign and local currency Issuer Default Ratings (IDR) to "BBB+" from "A-" on Friday.

The outlook on the long-term IDRs remains negative.

The London-based agency has simultaneously affirmed the short-term foreign currency IDR at "F2" and the common eurozone Country Ceiling for Slovenia at "AAA."

The macroeconomic and fiscal outlook has deteriorated greatly since Fitch's last rating review of the Slovenian sovereign in August 2012, the agency said.

It also forecast a 2-percent contraction in Slovenia's real GDP in 2013 and a decline of 0.3 percent in 2014.

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