Economy minister to meet with Moody’s officials

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Economy Minister Tomislav Panenic said on Thursday that during his meeting with representatives of the Moody’s credit rating agency he would express the government’s determination to implement the necessary reform.

“We want to be quick and flexible and make it clear that the changes they demand will be implemented,” Panenic told reporters. He was scheduled to meet with Moody’s officials later on Thursday.

“It’s time we stopped just talking and backed our words with action,” he said, adding that a Moody’s delegation would visit again in the middle of the year.

The Fitch rating agency recently reaffirmed Croatia’s ‘BB’ foreign currency rating, with a negative outlook. The rating is two notches below investment grade. The same rating is maintained by Standard & Poor’s, while Mood’y keeps the rating one notch below the investment level at ‘Ba1’, also with a negative outlook.

(Hina) vm

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