SARAJEVO (Bosnia and Herzegovina), September 3 (SeeNews) - Global rating agencies Moody's and Standard & Poor's have affirmed their respective credit ratings of Bosnia and Herzegovina, the country's central bank said.
Moody's affirmed its B3 credit rating, while Standard & Poor's affirmed its B credit rating of Bosnia and Herzegovina, the central bank said in a statement on Thursday.
Both rating agencies affirmed the credit ratings with a stable outlook.
Moody's has assessed the fiscal strength of the country as better compared with countries of the same sovereign rating, as earlier budget surpluses have created fiscal space to respond to the pandemic, without a significant increase in fiscal vulnerabilities, the central bank said.
"Analysts estimate that the sovereign rating is mostly limited by a complex political structure that slows down institutional progress and progress in the area of economic reforms. These negative factors have been partially neutralized by the moderate level of indebtedness and commitment of the international community to the economic stabilization of the country," the central bank said citing the credit rating of Moody's.
Standard & Poor's sees Bosnia's credit rating outlook as stable as the macroeconomic impact of the pandemic and the still sustainable level of government indebtedness have been assessed to create significant balance against the aforementioned risk factors, Bosnia's central bank said.