It was the last of the big three rating agencies that still gave Slovakia a grade at the previous level, although it constantly drew the government’s attention to factors it did not like. In the end, however, the agency Standard & Poor’s also decided that it trusts Slovakia less than in the past.
On Friday, the country downgraded its rating to level A with a stable outlook from the original rating of A+ with a negative outlook.
The mark thus dropped from the fifth highest level to the sixth. This is the lowest rating of Slovakia from this agency since the beginning of 2012.
With its assessment, the agency also came close to the assessments of two other important agencies, which have been evaluating Slovakia less optimistically for a long time, i.e. Moody’s and Fitch.
What does the agency blame Slovakia for?
So far, unlike other agencies, S&P has only worsened Slovakia’s rating outlook in the past as a warning that the deterioration of the rating may occur in the foreseeable future.
Today, the agency’s decision is not a one-time shock or current geopolitical tension, but a longer-term development.
